With the advancement of the cryptocurrency bill, Wall Street sends a signal of stablecoin counterattack

According to a report by Golden Finance, leaders of several major banks in the United States, including JPMorgan CEO Damon, Bank of America CEO Moynihan, and Citigroup CEO Fraser, view stablecoins as a potential threat to payment control in the banking industry. Senior bankers are exploring tools such as deposit tokens and stablecoins issued by banks to defend their control over payments. Fraser stated that the bank is actively exploring reserve management for stablecoins and providing custody services for cryptocurrency assets. Moynihan warns that the banking industry must respond to the rise of stablecoins, whether through developing its own products or partnering with emerging payment institutions, to prevent customers from turning to new partners.