Early Warning Services, the company behind Zelle, is considering issuing its own stablecoin for retail bank customers, focusing on creating a crypto asset pegged to the US dollar. The Clearing House is also exploring stablecoin initiatives. Stablecoins have gained Wall Street’s attention, with a total supply of $287 billion.

The plan would start with a small-scale test project, offering customers at major US banks a way to use stablecoins in everyday payments. Stablecoins, like Zelle, are gaining traction in the financial industry, with projections of significant growth in the market size over the next few years. President Trump signed the Genius Act, regulating stablecoins.

JPMorgan analysts estimate the stablecoin market could grow two to three times its current size. Goldman Sachs CEO David Solomon expressed interest in integrating stablecoins into mainstream finance. Stablecoin issuers are racing to build adoption for business transaction-focused networks. Major players like Circle, Stripe, and Google are unveiling plans for stablecoin blockchain platforms.

Read more at Yahoo Finance.: Zelle owner Early Warning Services exploring stablecoin for retail bank customers