The conversations have so far involved companies co-owned by JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and other large commercial banks, the report said, citing people familiar with the matter. However, the newspaper said that the bank consortium discussions are in early, conceptual stages and could change.

Top US banks are considering teaming up on a stablecoin, according to a Wall Street Journal report. JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Early Warning Services (operator of Zelle) and the Clearing House,

Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC), are reportedly teaming up to decide whether or not to issue a joint stablecoin. According to The Wall Street Journal report, the bank consortium discussions are in the early conceptual stages and could change.