Zelle owner Early Warning Systems exploring stablecoin for retail bank customers

Early warning systems plan, starting the start of the Zelle payment network, to explore their Stablecoin version for retail customers in the coming weeks, according to the people familiar with the matter.

In its early days, the plan will focus on the infrastructure for the creation and version of Stablecoin aimed at retail customers. Stablecoin is one of the assets of encryption that, unlike bitcoin, is not supposed to fluctuate. Instead, it contains a confusing price for other assets, usually the US dollar.

Read more: How to work Stablecoins

This pledge, which is likely to start a small test project on a small scale, would give customers in some of the largest American banks a way to use Stablecoins in daily payments.

The sources added that The Clearing House, a payment company and a banking bond owned by about 20 large banks, is also studying Stablecoin, but the sources have not yet exceeded the discussions.

Representatives of early warning systems refused to comment.

“Stablecoins is a possible innovation in the area of ​​digital assets and payments,” said a clearing spokesman. He added that the company “is always on the knowledge and evaluation of the technologies/emerging opportunities.”

Stablecoins has gained a lot of Wall Street’s attention this year. While there is a continuous debate about the speedy adoption between ordinary users and financial institutions in the end, their long -term outlook has received an increasing estimate.

Early alarm systems is Fintech Company owned and monitored by a group of major American banks, including JPMorgan Chase (Jpm), Bank of America (Pile), Wales Vargo (WFC), One capital (COF), And pnc (PNC). EWS manages the Zelle payment network with the provision of financial institutions with a set of compliance programs and services

It was launched in 2017 as an answer to the banking industry platforms on Fintech platforms such as PayPal, Venmo, Cashapp, and Zelle to treat them with more than one trillion dollars in the size of payments last year and reached a new record last month, when users sent $ 108 billion through its network, according to the company.

The Wall Street Journal reported for the first time in May that bank executives of early warning and the clearing house had discussions about the exploration of Stablecoins.

In July, President Trump Fell The first federal framework for dollar -backed payment, known as the Genius Law.

The draft law opened this section for banks, FinTich companies and other companies to start issuing their organizational versions, although the banking organizers have not yet issued concrete directives of how to do this without violating the other existing symbols.