This feels inevitable. Right now stables are dominated by Circle and Tether (depending whether you’re inside or outside the US), with a little PayPal, Sky and other orgs. USDT isn’t headquartered in the US, banks don’t want to assist paxos/coinbase (Circle) and if retail banks can now hold and stake tokens they’ll probably want their own stablecoin.

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Big Banks Explore Venturing into Crypto World Together with Joint Stablecoin

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