The parent company of the American transfer platform Zelle is considering launching a stablecoin

According to ChainCatcher, as reported by Crowdfundinsider, the bank consortium behind the U.S. transfer platform Zelle, Early Warning Services (EWS), is considering entering the cryptocurrency space and exploring the development of its own stablecoin. According to sources, EWS is actively researching the infrastructure needed to create and issue a stablecoin aimed at everyday banking consumers.

This initiative is still in its early stages but could position EWS as a key player in the adoption of digital currency by U.S. retail banking customers. EWS is supported by major financial institutions such as Bank of America, JPMorgan Chase, Wells Fargo, and PNC, competing with platforms like Venmo and CashApp through the Zelle platform. Last year, Zelle processed over $1 trillion in transaction volume, demonstrating its widespread adoption and influence in the peer-to-peer payment market.