As the United States has just reached a decisive milestone by voting in the House on several groundbreaking laws regulating stablecoins, major American banks are already sharpening their strategies. Bank of America, Citigroup, and JPMorgan are quietly preparing to launch their own stablecoins.
Bank of America is holding off on stablecoins until U.S. lawmakers pass the GENIUS Act. Meanwhile, the bill gains momentum, signaling growing support for clear regulation.
As wealth inequalities worsen, another reality looms: Generation Z, often perceived as economically fragile, is set to become the richest in history by 2045. A study by Bank of America challenges preconceived notions by projecting an unprecedented shift of wealth towards this hyperconnected youth. Contrary to alarmist narratives, these forecasts reveal a generation on the rise, driven by economic, educational, and digital dynamics that are reshaping the contours of global financial power.
The major US banks are opposed to stricter capital requirements, fearing a negative impact on the economy.
Crypto banks may compete with "old-timer" institutions but traditional financial establishments will hinder the emergence of a new industry.