JPMorgan & Krypto: Is the banking tablecoin now?

JPMorgan, Bank of America and other US large banks want to introduce a stable coin together. The first talks are already underway – in response to the growing pressure by crypto and big tech.

A new draft law could create the crucial basis. The financial world faces a possible turning point.

Traditional banks are now plunging into the crypto market

The report shows that the discussions concern companies that are in the shared possession of these banks, such as Early Warning Services and Clearing House. However, these talks are still at an early stage.

The result would be from the progress of the StablecoinLegal and market demand depend. It is noteworthy that the CEO of the Bank of America already pointed out a possible introduction of a stable coin at the end of February.

This latest initiative now reflects a broader change in the banking sector. It was triggered by concerns about the possible widespread introduction of stablecoins, especially during the term of the term of President Donald Trump.

This could disturb traditional deposits and transactions. The risk is particularly great when large technology companies or large retailers take over you.

“The banking industry is in catch-up mode in the crypto area after a regulatory passion two years ago,” said the WSJ fest.

In the meantime, the discussions arise against the background of the increased focus of the country on the regulation of the sector by the Genius Act. Despite the opposition, the The draft law this week passed a cloture vote16 Democrats changed their voice in favor. The Genius Act now goes to the Senate for the final coordination.

“Next week the US Senate will vote on the Genius StableCoin Act-it will be passed,” posted Bankless founder Ryan Sean Adams on x.

Adams believes that the adoption of the law will trigger a massive edition of stable coins, since FinTech companies, banks and social media platforms act quickly to take over. He points out that most of these companies already have the necessary infrastructure and are waiting for regulatory approval.

The Senator of Wyoming, Cynthia Lummis, also emphasized the significant effects of the proposed legislation.

“Stable coins are not the future, they are the present. Digital assets can make payments easier 365 days a year without the additional costs,” she wrote on x.

She described The law as a 'thought -out and balanced approach', which is necessary so that the United States can preserve and expand its leadership role in financial investments. Lummis emphasized that it is crucial to maintain American dominance in digital finance, and demanded efforts to ensure that this leadership remains in the USA and does not migrate to other countries.

Market forecasts underline this urgency. The US Ministry of Finance predicts that the StableCoin market could grow to USD 2 trillion by 2028. In addition, Citigroup predicts a market capitalization of USD 3.7 trillion by 2030.

This expected crypto growth emphasizes the transformative potential of stable coins and the strategic importance of regulatory and market-related positioning for traditional financial institutions.