Financial Times: Banks and financial institutions join the “stablecoin gold rush”

According to the Financial Times, global banks and fintech companies are competing to launch their own stablecoins to grab a share of the cross-border payment market that is expected to be reshaped by cryptocurrencies. Bank of America expressed an open attitude towards issuing its own stablecoin last month, joining the ranks of payment service providers such as Standard Chartered Bank, PayPal, Revolut, and Stripe that have already entered this field.