Banking Giants Rush into the Stablecoin Market! Coinbase: 2025 Will Be a Breakthrough Year for Stablecoins
TradingKey – Major financial institutions, including Bank of America and U.S. Bancorp, are entering the stablecoin market, with Coinbase emphasizing that stablecoins are becoming a core driver of the financial industry.
On Wednesday, June 11, Bank of America CEO Brian Moynihan announced that the bank is developing its own stablecoin and collaborating with industry partners.
On the same day, U.S. Bancorp CEO Gunjan Kedia revealed plans to enter the stablecoin market, stating,“U.S. Bancorp may create its own stablecoin and achieve this goal through strategic partnerships.”
As of the latest update, Société Générale and JPMorgan Chase have already launched stablecoins, while Deutsche Bank, Citibank, Goldman Sachs, Credit Suisse, and Barclays are actively considering entering the market.
Meanwhile, Hong Kong has enacted stablecoin regulations, attracting financial institutions such as JD.com and Ant International. The U.S. and South Korea are also accelerating stablecoin legislation, which, once passed, could significantly boost stablecoin adoption.
A June 10 report from Coinbase (COIN) revealed that stablecoin transaction volume in 2024 reached $27.6 trillion, surpassing the combined transaction volume of Visa and Mastercard ($7.68 trillion). Additionally, Coinbase predicts that 2025 will be a breakthrough year for stablecoins, solidifying their role as a key financial driver.
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