<ul><li>Major US banks, including JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, are considering creating a joint stablecoin to compete in the crypto industry.</li><li>Discussions involve bank-owned payment companies like Zelle operator Early Warning Services and the Clearing House; the plans are in early stages and subject to stablecoin legislation and market demand.</li><li>The move comes after key stablecoin legislation advanced in the US Congress, with banks concerned about potential competition from stablecoins impacting their deposits and profits.</li><li>Despite the banks' interest, global stablecoins may still have an edge due to accessibility, with the current crypto stablecoin market worth $248 billion and predicted to reach $2 trillion by 2028.</li></ul>

Major US Banks Mulling Joint Stablecoin Venture: Report

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