JPMorgan and Bank of America announced plans to launch proprietary stablecoins in anticipation of the GENIUS Act’s new stablecoin regulations

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Several major institutions have already anticipated this move and are preparing accordingly. Both JPMorgan and the Bank of America have announced plans to launch their own stablecoin soon.

On Tuesday, Coinbase said JPMorgan Chase & Co would launch a stablecoin on the crypto exchange’s Base blockchain.