Big Banks Reignite Stablecoin Ambitions
In a bold shift toward digital finance, major U.S. banks are reportedly in early discussions to launch a joint stablecoin project, according to a Wall Street Journal report. The effort would aim to create a regulated digital dollar alternative designed for interbank settlements and retail payments, potentially positioning the banks as direct competitors to private stablecoins like USDC and USDT.
“The joint stablecoin could bring greater compliance, security, and interoperability to the U.S. digital asset space,” insiders said.
If successful, the move would mark the first unified stablecoin initiative by American banking giants, seeking to regain control over the rapidly expanding digital currency landscape.
BTC and ETH ETFs Witness Record Inflows
Meanwhile, Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) saw their largest combined daily inflows since January, totaling more than $700 million. The surge comes amid renewed investor confidence and growing institutional interest, especially as spot BTC ETFs continue to outperform expectations.
“Strong inflows into BTC and ETH ETFs reflect bullish sentiment and long-term accumulation,” said crypto market analyst Kevin Zhou.
BlackRock’s iShares Bitcoin Trust (IBIT) led the charge with over $350 million in net inflows, followed by Fidelity’s Ethereum ETF, which added $200 million in a single day. The spike indicates widening mainstream adoption of crypto-backed financial products.
U.S. Regulatory Climate Still in Flux
The simultaneous rise of stablecoin projects and ETF inflows puts renewed pressure on regulators. The SEC and CFTC are still hashing out jurisdictional boundaries, while Congress is considering multiple bills on stablecoin frameworks, DeFi oversight, and token classification.
“We’re witnessing the maturation of the U.S. digital asset market — one regulatory and institutional milestone at a time,” said fintech lawyer Amanda Liu.
Other Highlights from the Crypto World
- Tether (USDT) supply nears $120 billion, remaining the dominant stablecoin despite growing competition and compliance questions.
- Hyperliquid’s HYPE token continues to rally, up 12% on increased DeFi engagement and CFTC feedback.
- Solana (SOL) sees renewed institutional interest as trading platforms like Kalshi integrate it into payment systems.
Conclusion
“From Wall Street to Washington, crypto’s mainstream moment is unfolding fast,” notes blockchain economist Alex Greenwood.
With U.S. banks reimagining stablecoins, ETFs drawing record inflows, and regulators scrambling to keep up, the digital asset economy is undergoing a transformative period of institutional alignment and user adoption.