GENIUS Act catalyzes the convergence of traditional and encrypted finance. American banking giants conspire to form a stablecoin alliance.

According to informed sources, several large banks in the United States are considering jointly issuing stablecoins, which may indicate that traditional finance and cryptographic finance are accelerating integration. Preliminary conceptual discussion participants include major financial institutions such as JPMorgan Chase (JPM.US), Bank of America Corp (BAC.US), Citigroup (C.US), Wells Fargo & Company (WFC.US), and several enterprises jointly owned by Financial Institutions, Inc. These include Early Warning Services, which operates the digital payment network Zelle, and the payment system named Clearing House. The final decision will depend on the progress of stablecoin legislation and the market demand for such assets. Reports indicate that some regional banks and community banks are also considering forming independent stablecoin alliances, but implementation is more difficult for small Financial Institutions, Inc. Stablecoins are typically pegged to fiat currencies, commodities, or other reference assets. Although there are doubts about their security and regulatory impact, these assets are expected to accelerate conventional transaction processes such as cross-border payments. The Trump administration continues to push for the establishment of a clear regulatory framework for cryptocurrencies. This week, the "2025 U.S. Stablecoin Innovation Guidance and Regulation Act" (referred to as the GENIUS Act) has made progress in the Senate. The bill aims to regulate stablecoin issuance and sets strict standards for reserve maintenance, financial risks, and consumer data privacy.