Deutsche Bank is considering issuing stablecoins or joining industry led stablecoin projects

On June 8th, according to Bloomberg citing Sabih Behzad, head of digital assets and currency transformation at Deutsche Bank, the bank is considering whether to issue its own stablecoin or join a broader industry cooperation program. The report states that the bank is also evaluating the development of a tokenized deposit system to improve payment efficiency. Currently, large banks in the United States are weighing the possibility of launching a joint stablecoin to counter competition from the cryptocurrency sector. According to reports, financial giants such as JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) participated in the discussion. With the clarification of EU regulations and the upcoming introduction of stablecoin legislation in the United States, the adoption rate of stablecoins is accelerating. Behzad stated that banks can choose to serve as reserve managers or issue their own digital tokens. Deutsche Bank previously pointed out in a research report that as cryptocurrency legislation advances under the leadership of Donald Trump's administration, stablecoins are on the brink of mainstream adoption. At the same time, Germany's largest bank has also invested in cross-border payment company Partior and joined the "Project Agor á" supported by the central bank, which focuses on wholesale level tokenized payment systems.