From Yahoo Finance: 2025-06-05 16:06:00

The race to embrace stablecoins heats up as Circle’s stock soars over 167%, closing at $107 after listing at $31. Circle’s USD Coin is the world’s second-largest stablecoin. Major US banks, including JPMorgan Chase, Wells Fargo, Citigroup, and PNC, explore issuing stablecoins to compete with Circle. A Zelle-like stablecoin network is being considered. Legislation on stablecoins is in Congress, prompting banks to weigh options. Morgan Stanley and Charles Schwab plan to offer cryptocurrencies to retail clients. JPMorgan is accepting digital assets as collateral for loans and counting them in client assessments. CEO Jamie Dimon supports clients owning bitcoin.



Read more at Yahoo Finance: The race to embrace stablecoins heats up on Wall Street