21 Banks

21 of the biggest names in global finance are preparing to launch their own stablecoin — and it could be one of the clearest signs yet that crypto’s original thesis is moving directly into mainstream banking.

Bank of America, Citi, Goldman Sachs, Wells Fargo, Deutsche Bank, UBS, Santander, Lloyds, Fidelity and other major financial institutions are now working toward blockchain-based digital money designed for payments, settlement and potentially much more.

For years, banks questioned whether crypto and blockchain technology had any real purpose. Now many of those same institutions are exploring 24/7 digital payments, tokenised assets, instant settlement and money that can move directly across blockchain infrastructure.

In today’s Crypto News Today Deep Dive, we look at what these 21 institutions are actually building, why banks suddenly want stablecoins of their own, and whether the rise of Tether and Circle has forced traditional finance to act.

We also examine what this could mean for Ethereum, Solana, XRP and other blockchain networks, whether bank-issued stablecoins could eventually challenge USDT and USDC, and why trillions of dollars of traditional financial activity could eventually move onto blockchain rails.

But there is another possibility.

Crypto was originally supposed to replace the banks.

What if the banks simply take the technology, regulate it, integrate it into their existing businesses — and become some of blockchain’s biggest users?

These notes are supplied by Crypto News Today and are not a transcript. No separate source links were supplied with this edition.