JPMorgan, Bank of America, Citi to start blockchain offensive with shared tokenized network
Crypto
Major US banks, including JPMorgan, Bank of America, and Citi, are reportedly planning to launch a shared tokenized network in 2025. This initiative aims to counter the competitive threat posed by stablecoins to their deposit bases by offering a regulated, blockchain-based alternative for interbank transactions.
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↑ LONG+3% target-2% stop2-4 weeks
Long JPM, BAC, and C as this collaborative blockchain initiative signals a proactive defense against stablecoin disruption and potential for new revenue streams.