Some large US banks plan to launch stablecoins

According to Reuters, several large U.S. financial institutions, including Bank of America and Citigroup, are planning to launch stablecoins. Bank of America CEO Brian Moynihan stated that the bank is moving forward with the launch of a stablecoin, and investors can expect the bank to advance related plans, but he did not disclose a specific timeline. Citigroup CEO Jane Fraser also stated that they may issue stablecoins to facilitate digital payments. "We are considering issuing a Citi stablecoin, which is a good opportunity for us." JPMorgan Chase's CEO stated that the bank will participate in the stablecoin business, but did not disclose specific details. [Foresight News]