{"id":267219,"date":"2025-07-16T18:12:11","date_gmt":"2025-07-16T18:12:11","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/267219\/"},"modified":"2025-07-16T18:12:11","modified_gmt":"2025-07-16T18:12:11","slug":"36-1-trillion-later-wall-street-cant-ignore-stablecoins-anymore","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/267219\/","title":{"rendered":"$36.1 Trillion later, Wall Street can\u2019t ignore stablecoins anymore"},"content":{"rendered":"

\t\t\t\t\t\t\t\tKey Takeaways<\/p>\n

Wall Street giants like JPMorgan and Citigroup are embracing stablecoins as lawmakers debate crypto regulations. Stablecoin adoption remains strong, with $36.1T in annual transaction volume.<\/p>\n

Wall Street\u2019s growing interest in digital assets took another step forward as top banking executives signaled their entry into the stablecoin space.<\/p>\n

JPMorgan and Citigroup\u2019s stablecoin push<\/p>\n

JPMorgan Chase CEO Jamie Dimon and Citigroup CEO Jane Fraser both confirmed plans to engage with stablecoins<\/a>, reflecting a broader institutional shift toward crypto integration. <\/p>\n

Remarking on the same, Fraser noted<\/a>,\u00a0<\/p>\n

\n

\u201cWe are looking at the issuance of a Citi stablecoin. We really welcome the administration\u2019s willingness to allow banks to participate in the digital asset space more easily.\u201d<\/p>\n<\/blockquote>\n

This is an interesting move given, JPMorgan CEO Jamie Dimon, who was once a vocal critic of cryptocurrencies, acknowledged the need to adapt. <\/p>\n

He cited competition in the payments space as a key driver for embracing stablecoin technology. <\/p>\n

In line with this shift, JPMorgan has already unveiled<\/a> plans for a deposit token known as JPMD, designed to function similarly to a stablecoin but limited to use by its institutional clients.<\/p>\n

But, he also clarified that his skepticism hasn\u2019t completely faded, emphasizing a cautious approach despite the bank\u2019s growing involvement in digital assets.<\/p>\n

\n

\u201cI think they\u2019re real, but I don\u2019t know why you\u2019d want to [use a] stablecoin as opposed to just payment.\u201d<\/p>\n<\/blockquote>\n

Regulatory roadblock<\/p>\n

This coincided with the \u201cCrypto Week,\u201d called by some GOP members, wherein legislative efforts around digital assets in Washington encountered early turbulence. <\/p>\n

For those unaware, on the 15th of July, a procedural floor vote to advance three crypto-related bills, alongside the 2026 Defense spending package, failed<\/a>, with 13 Republicans joining Democrats in voting against it. <\/p>\n

The 196-223 outcome stalled momentum for moving the legislation to the House floor. <\/p>\n

Some Republicans opposing the motion argued that all pending crypto bills should be bundled together for unified consideration.<\/p>\n

Following this, President Donald Trump urged GOP lawmakers via Truth Social to support the GENIUS Act and push for swift progress ahead of the August recess.\u00a0<\/p>\n

\"Trump<\/a><\/p>\n

Source: Truth Social<\/p>\n

Needless to say, this stirred considerable uncertainty within the crypto community, as highlighted<\/a> by journalist Jake Sherman, who remarked,\u00a0<\/p>\n

\n

\u201cThey may bring up the rule later. They may not. we will see!\u201d\u00a0<\/p>\n<\/blockquote>\n

What\u2019s ahead?<\/p>\n

However, despite the ongoing legislative uncertainty in Washington, there are signs of renewed momentum. <\/p>\n

House Speaker Mike Johnson has indicated that another vote could take place soon, offering hope for progress on stalled crypto bills.<\/p>\n

\"Brendan<\/a><\/p>\n

Source: Brendan Pedersen\/X<\/p>\n

Meanwhile, the stablecoin market remains resilient and even optimistic. <\/p>\n

According<\/a> to Visa\u2019s on-chain analytics, stablecoins have facilitated an impressive $36.1 trillion in transaction volume over the past 12 months. <\/p>\n

This substantial figure underscores that interest in stablecoins remains strong, suggesting that regulatory headwinds have yet to dampen real-world usage and institutional enthusiasm for these digital assets.\u00a0<\/p>\n

\t\t\t\t\t\t\t\t\t\t\tNext: CoW Protocol surges 23% as liquidity piles at $0.45: What happens now?<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"Key Takeaways Wall Street giants like JPMorgan and Citigroup are embracing stablecoins as lawmakers debate crypto regulations. Stablecoin…\n","protected":false},"author":2,"featured_media":267220,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[52,51,16,15],"class_list":{"0":"post-267219","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ambcrypto","9":"tag-business","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114864269157099809","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/267219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=267219"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/267219\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/267220"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=267219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=267219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=267219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}