Wall Street’s Old Guard Plots Stablecoin Coup—Because Nothing Says ’Innovation’ Like a Banker Consortium

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2025-05-23 05:32:19

America’s Biggest Banks Consider Teaming Up to Challenge $245B Stablecoin Market: WSJ

America’s banking titans are circling the $245B stablecoin arena—not to innovate, but to protect their turf. The WSJ reports backroom talks about a coordinated push into crypto’s most boring (and profitable) corner.

Why now? Because stablecoins threaten to bypass legacy rails—and banks hate being bypassed. Expect ’regulation-first’ rhetoric masking a land grab.

Bonus cynicism: Watch them pitch this as ’consumer protection’ while fighting real DeFi tooth-and-nail.

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