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Major US banks are secretly working together on a crypto stablecoin project that could reshape the entire digital payments landscape. Right now, JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are exploring whether to team up and issue a joint stablecoin, marking a dramatic shift from their previously cautious stance toward cryptocurrency markets. Discussions on merging have been held in private via the Zelle system by Early Warning Services and The Clearing House’s real-time payment network. Work toward the agreement is still exploratory and its content may shift as time passes. Also Read: US Stocks, Bonds Sink as Debt Fears Caused by Trump Persist How US Banks Address Crypto Stablecoin Risks and Market Volatility Source: Linkedin / JP Morgan Regulatory Framework Creates New Opportunities It isn’t by chance that this banking project comes now and it links straight to recent changes in banking regulations. The GENIUS Act is moving forward in Congress, as the Senate has just...

The US economy performed better than expected in September 2023, despite the onslaught initiated by BRICS against the dollar. The greenback is rising against all local currencies from the BRICS alliance, putting pressure on their import and export sectors. The recent development forms a contradiction to speculations of a recession as the economy is experiencing a slight recovery. Also Read: BRICS : Oil Prices Remain Under Pressure as U.S. Dollar Strengthens The job reports came above expectations, strengthening the US dollar against all other currencies in the foreign exchange markets. Now that the American economy is experiencing a slight relief, Bank of America CEO Brian Moynihan predicts the future of the US economy. BRICS: Bank of America CEO On the Future of the US Economy Source: NBC News The BOA CEO, Brian Moynihan, highlights that the bank’s financial strategists are expecting a soft landing for the US economy rather than a recession. “We won’t have a recessio...