Old Men, New Money

Old Men, New Money

JPMorgan, BofA, Citi, and Wells Are Building Their Own Stablecoin to Fight Tether.

Here's What's Actually Happening.

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Douglas C Borthwick, Ali Davoudi, Phil Larmon, and Old Men, New Money
Jun 07, 2026
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The biggest U.S. banks just announced a tokenized deposit network for 2027. It’s not a stablecoin. It’s something else entirely.

The Announcement No One Saw Coming

JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are building a shared blockchain payment network. According to a Wall Street Journal report published June 5, the project will launch…

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