JPMorgan Weighs Issuing Its Own Stablecoin
Summary
- The JPMorgan Chase, the largest bank in the US, has internally reviewed issuing its own stablecoin, according to a report.
- The discussions remain at an early stage, with no specific product under development, and the bank said it could consider various options depending on customer demand and changes in the regulatory environment.
- JPMorgan already operates a blockchain-based tokenized deposit service, and traditional financial institutions' review of stablecoin use cases is expanding banks' moves into the market.
Forecast Trend Report by Period
JPMorgan Chase, the largest bank in the US, has internally reviewed whether to issue its own stablecoin, the Wall Street Journal reported. The move indicates the bank is also exploring a potential entry into the stablecoin market alongside its existing tokenized deposit business.
The Journal reported on Aug. 26 that JPMorgan recently examined whether it could launch an in-house stablecoin.
The discussions remain at an early stage, and no specific product is currently under development. JPMorgan also has no current plan to issue a stablecoin, but it could consider various options later depending on customer demand and changes in the regulatory environment.
JPMorgan already operates a blockchain-based tokenized deposit service. Traditional financial institutions have recently been exploring ways to use stablecoins, broadening banks' push into the market.
JH Kim
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