The largest U.S. bank, JPMorgan Chase, is open to launching a stablecoin, according to a spokesperson.
The bank recently held preliminary conversations about whether it could launch its own stablecoin, the Wall Street Journal reported Wednesday, citing people familiar with the matter.
At the moment, JPMorgan has no active plan to launch a stablecoin, but may consider one in the future.
“While we have no plans to issue a stablecoin, depending on customer demand and the evolution of the regulatory landscape, we would of course evaluate all options in the future,” a JPMorgan spokeswoman said.
Meanwhile, JPMorgan already has a digital deposit token, JPM Coin, which it launched in November 2025 for institutional clients, Cryptopolitan reported.
Deposit tokens are different from stablecoins. They represent digital claims on existing bank deposits.
U.S. banks now want their own stablecoin
Traditional banks long viewed stablecoins as a direct threat to their business. Lately, however, a lot of them have begun mulling over launching their own stablecoin, joining the competition in a market estimated to process up to $1.5 quadrillion annually by 2035.
JPMorgan gave a hint in a research report. The bank said stablecoins have become a “must-have” given how efficient they are in moving money, Cryptopolitan reported.
“Consumers and businesses increasingly expect funds to move as fast as information,” the bank said. “The sharp growth in real-time payment signals that instant settlement is moving from a ‘nice-to-have’ to a ‘must-have.“
In June, a consortium of U.S. banks and payment firms joined the Open Standard to launch a so-called OpenUSD stablecoin for global payments.
WSJ also reported that Bank of America, Wells Fargo, and Santander are among a dozen financial institutions currently pursuing a stablecoin venture that would reach across the globe.
The banks plan on issuing a stablecoin for all Group of Seven currencies, starting with the U.S. dollar, for the commercial side of their businesses.
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