Citigroup is exploring a stablecoin called 'Stablecoin Citi' to facilitate digital payments, with CEO Jane Fraser emphasizing its potential for industry leadership.

Bank of America’s CEO Brian Moynihan has indicated that the bank has done substantial preparatory work on stablecoins but remains cautious, awaiting clearer legal guidance before making major moves.

JPMorgan’s CEO Jamie Dimon has expressed interest in stablecoins and their deposit token, highlighting the importance of participating in the evolving fintech space, despite previous criticisms of bitcoin.

The favorable political environment, including the passage of the GENIUS Act and support from the Trump administration, has encouraged banks to pursue stablecoin initiatives.

Goldman Sachs’ CEO David Solomon confirmed the bank is dedicating resources to explore stablecoin implementation, though no specific product has been defined yet.

The recent passage of the GENIUS Act by Congress aims to regulate digital currencies and may permit banks to issue stablecoins, spurring interest among major financial institutions.

Morgan Stanley’s CFO Sharon Yeshaya mentioned that the bank is evaluating the stablecoin landscape and discussing potential client uses, though it currently has no active products.

Bank of America has confirmed its involvement in stablecoin development, with CEO Brian Moynihan stating that the bank has completed significant preparatory work.

Following new legislation, major U.S. banks are preparing to launch their own stablecoins, signaling a significant regulatory and market shift.

Major U.S. banks, including Bank of America, Morgan Stanley, Citigroup, and JPMorgan, are actively exploring stablecoins, signaling a significant shift in traditional finance towards digital currencies.

The White House is preparing an executive order to regulate digital assets, which could further accelerate institutional adoption of stablecoins.

During second-quarter earnings calls, CEOs from five of the six largest U.S. banks revealed they have launched or are planning stablecoin products, marking a notable shift in Wall Street’s approach to cryptocurrency.