Wells Fargo Prepares Stablecoin With 20 Banks Despite Unclear US Demand
- —Wells Fargo and 20 banks plan a stablecoin joint venture
- —Entity targeted for H2 2026, first token for H1 2027
- —Consortium includes Bank of America, Citi, Goldman Sachs, Deutsche Bank
- —Wells Fargo Q3 net income reached $5.95 billion
Why it matters: Major US banks entering the stablecoin market will intensify competition with Tether and Circle and accelerate institutional adoption.
Source: Blockmedia