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Global Banks Unite To Launch Stablecion Initiative
Global Banks Unite To Launch Stablecion Initiative. Photo By Everfocal On Unsplash.
Global banks from different jurisdictions are considering launching a stablecoin intitative, per Reuters.
The reporting reveals that a statement has been released with some of the largest banking institutions aligning to insure major sovereign currencies have the stablecoin equivalents, particularly from the G7 country members, including U.S., UK, Japan and others.
This follows recent developments across the European Union trying to encourage a faster progression of stablecoin-related programmes, such as the consortium of banks announced planning to launch a Euro-backed stablecoin, which lags behind the dollar alternative.
More details are expected to follow, with some of the participants named including Bank of America, Citi Bank, Goldman Sachs, Deutsche Bank and others.
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