{"id":176469,"date":"2025-10-13T09:50:33","date_gmt":"2025-10-13T09:50:33","guid":{"rendered":"https:\/\/teknomers.com\/en\/ten-major-banks-are-pursuing-stablecoins-aiming-to-capitalize-on-the-digital-currency-trend\/"},"modified":"2025-10-13T09:50:35","modified_gmt":"2025-10-13T09:50:35","slug":"ten-major-banks-are-pursuing-stablecoins-aiming-to-capitalize-on-the-digital-currency-trend","status":"publish","type":"post","link":"https:\/\/teknomers.com\/en\/ten-major-banks-are-pursuing-stablecoins-aiming-to-capitalize-on-the-digital-currency-trend\/","title":{"rendered":"Ten major banks are pursuing stablecoins, aiming to capitalize on the digital currency trend."},"content":{"rendered":"\n<h2>Major Banks Join Forces to Explore the World of Stablecoins<\/h2>\n<p>A \u00a0consortium\u00a0 of ten of the world\u2019s largest banks, including stalwarts like \u00a0Bank of America\u00a0, \u00a0Goldman Sachs\u00a0, \u00a0UBS\u00a0, \u00a0Santander\u00a0, and \u00a0BNP Paribas\u00a0, has recently announced their intention to explore the creation of their own <em>stablecoins<\/em>. This significant move was reported by <a rel=\"noopener, noreferrer nofollow\" href=\"https:\/\/www.reuters.com\/business\/finance\/major-banks-explore-issuing-stablecoins-pegged-g7-currencies-2025-10-10\/\" target=\"_blank\"><em>Reuters<\/em><\/a>.<\/p>\n<p><strong>Why is this important?<\/strong> This marks the first occasion where a consortium of such magnitude has taken proactive steps in response to the \u00a0threat\u00a0 posed by existing stablecoins to their core \u00a0business models\u00a0. The banks are recognizing that digital currencies are not just a passing trend; they are reshaping the financial landscape.<\/p>\n<p><strong>What has happened?<\/strong> The consortium has declared that these stablecoins would be \u00a0digital assets\u00a0 pegged 1:1 to major G7 currencies such as the \u00a0U.S. dollar\u00a0, \u00a0euro\u00a0, and \u00a0British pound\u00a0. Crucially, these digital tokens would function on \u00a0public blockchains\u00a0, leveraging the same underlying technology that the broader \u00a0crypto world\u00a0 utilizes.<\/p>\n<p>This announcement aims to challenge the dominant position of \u00a0Tether\u00a0, a singular company that currently manages a staggering \u00a0$179 billion\u00a0 outside the traditional banking infrastructure. As traditional financial institutions take this step, they are clearly stating that they do not intend to be sidelined in the future of finance.<\/p>\n<p><!-- BREAK 1 --> <\/p>\n<div class=\"article-asset article-asset-normal article-asset-center\">\n<div class=\"desvio-container\">\n<div class=\"desvio\">\n<div class=\"desvio-figure js-desvio-figure\">\n<pre><code> &lt;img alt=\"Bitcoin was supposed to save us from decentralization. A third is already in the hands of a few big players\" width=\"375\" height=\"142\" src=\"https:\/\/i.blogs.es\/208729\/bitcoin1\/375_142.jpeg\"\/&gt;<\/code><\/pre>\n<\/div>\n<\/div><\/div>\n<\/div>\n<p><strong>The small print<\/strong>. This movement is not necessarily born from \u00a0innovation\u00a0, but rather as a \u00a0response\u00a0 to an urgent need:<\/p>\n<ul>\n<li>Firstly, the money managed by Tether exists outside the confines and \u00a0regulations\u00a0 of the \u00a0SWIFT\u00a0 system, which imposes strict controls and fees on transactions.<\/li>\n<li>Secondly, banks are not pioneering a new system; they are merely attempting to build their own version of a model that is already established and gaining ground considerably.<\/li>\n<\/ul>\n<p>This poses a \u00a0great contradiction\u00a0. In order to compete effectively, banks must employ a technology\u2014\u00a0blockchain\u00a0\u2014that was explicitly created to eliminate intermediaries. Given that traditional banks operate as intermediaries, this represents a seismic shift within their business model, forcing them to adapt to technologies that threaten to erode their core functions.<\/p>\n<p><!-- BREAK 2 --><\/p>\n<p><strong>And now what?<\/strong> The next steps fall to \u00a0governments\u00a0 and \u00a0central banks\u00a0. From a regulatory standpoint, a stablecoin issued by a private bank remains a potential threat to \u00a0monetary sovereignty\u00a0. This development may catalyze governments to hasten their own \u00a0digital currency\u00a0 initiatives, often referred to as \u00a0CBDCs\u00a0 (Central Bank Digital Currencies).<\/p>\n<p>A CBDC managed by the \u00a0European Central Bank\u00a0 or the \u00a0Federal Reserve\u00a0 could, in the long run, make both Tether\u2019s stablecoins and those proposed by banks effectively \u00a0obsolete\u00a0. In this race, the banks&#8217; attempts to forge their own path might inadvertently propel the emergence of an even more formidable competitor: \u00a0state-controlled digital currency\u00a0.<\/p>\n<p>As governments react to this evolving landscape, it becomes evident that the interweaving of traditional banks with emerging cryptocurrency technologies will redefine the future of finance. The steps taken by this consortium of major banks may appear as a tactical move; however, it could also represent a broader, impending shift in how digital currency is managed and regulated in the future.<\/p>\n<p>In the sphere of finance, the adoption of blockchain technology by banks sends a clear message: they are not only willing to adapt but are also prepared to \u00a0confront\u00a0 competition from an ever-evolving financial ecosystem. This transition may herald a new chapter in finance, where the \u00a0borders between traditional banking and innovative technologies\u00a0 begin to blur.<\/p>\n<p>As this story unfolds, stakeholders in both the banking and cryptocurrency sectors will be watching closely, anticipating how regulatory bodies will respond to these new initiatives and whether they will pave the way for state-backed digital currencies that could ultimately define the financial landscape of tomorrow.<\/p>\n<p><br \/>\n<br \/><a href=\"https:\/\/teknomers.com\/category\/general\/\" rel=\"dofollow\">General News &#8211; 2<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Banks Join Forces to Explore the World of Stablecoins A \u00a0consortium\u00a0 of ten of the world\u2019s largest banks, including stalwarts like \u00a0Bank of America\u00a0, \u00a0Goldman Sachs\u00a0, \u00a0UBS\u00a0, \u00a0Santander\u00a0, and \u00a0BNP Paribas\u00a0, has recently announced their intention to explore the creation of their own stablecoins. This significant move was reported by Reuters. Why is this [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":176470,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36399],"tags":[21508,5233,28546,14087,1399,187,27153,41107,845,433],"class_list":["post-176469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-aiming","tag-banks","tag-capitalize","tag-currency","tag-digital","tag-major","tag-pursuing","tag-stablecoins","tag-ten","tag-trend"],"_links":{"self":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts\/176469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/comments?post=176469"}],"version-history":[{"count":0,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts\/176469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/media\/176470"}],"wp:attachment":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/media?parent=176469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/categories?post=176469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/tags?post=176469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}