Charles Hoskinson: Prediction about the stablecoin of American banks comes true

Charles Hoskinson, the founder of Cardano, just tweeted in response to the news that the largest banks in America are considering the issuance of their own stablecoin. He wrote briefly: "As predicted."

According to the Wall Street Journal, JPMorgan, Bank of America, Citigroup, and Wells Fargo are among the group discussing the collaboration for the issuance of a common stablecoin to counter the growing competition from the cryptocurrency sector. The negotiations are still in the early stages.

This move comes against the backdrop of the U.S. Congress recently passing an important step in the legislative process for stablecoins, with support from the Trump administration. Some opinions suggest that bank stablecoins could threaten the market share of USDT and USDC.