The GENIUS Act, a new federal law regulating digital currency, may allow banks to issue stablecoins. Bank CEOs from top Wall Street firms like JPMorgan and Citi are discussing their strategies for launching stablecoin products. This shift signals a major embrace of the technology by big banks. Jamie Dimon of JPMorgan launched a deposit token called JPMD and expressed interest in stablecoins. Citi’s Jane Fraser is already live with “Citi Token Services” and aims to lead in cross-border payments. Goldman Sachs is actively monitoring stablecoin opportunities, while BofA and Morgan Stanley are cautiously exploring the space.

Read more at Yahoo Finance.: Wall Street’s plans for stablecoin, from Goldman to JPMorgan