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      tldr; Major U.S. banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are in early talks to develop a joint crypto stablecoin, according to the Wall Street Journal. The stablecoin, pegged to the U.S. dollar, aims to enable faster and cheaper transactions, including cross-border payments. Discussions involve Early Warning Services (operator of Zelle) and The Clearing House. The initiative seeks to counter competition from the crypto sector, but its outcome depends on regulatory developments like the GENIUS Act.

      *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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