Daily Market Updates: 21 firms, including megabanks, plan a stablecoin-focused company

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21 firms, including megabanks, plan a stablecoin-focused company

Reported · Written up by our desk · Stablecoins

The Wall Street Journal Markets reports that 21 financial firms, including several megabanks, plan to launch a company aimed at addressing competitive pressure from digital assets.

According to the report, the new entity is intended to help “guard against” competition from stablecoins and other digital asset activity.

The plan centers on establishing an organization that would support stablecoin-related efforts for participating banks, the WSJ said.

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21 firms, including megabanks, plan a stablecoin-focused company

More like this

Sources

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