# JPMorgan Weighs Stablecoin as Bank Push Accelerates

*Author: David Christopher*
*Published: Aug 26, 2026*
*Source: https://www.bankless.com/read/news/jpmorgan-weighs-stablecoin-as-bank-push-accelerates*

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The [Wall Street Journal reported](https://www.wsj.com/finance/banking/banks-fought-against-stablecoins-now-they-are-considering-launching-their-own-896b691e) that JPMorgan is weighing launching its own stablecoin, as more than a dozen major banks explore a global stablecoin consortium, building on Tuesday’s momentum when thousands of smaller banks [announced the formation](https://ncbankers.org/2026/08/25/north-carolina-bankers-association-supports-launch-of-industry-owned-blockchain-network/) of the BankChain Alliance, an industry-owned blockchain network targeting a 2027 launch.

## What’s the Scoop?
- **JPMorgan’s Shift:** JPMorgan’s [potential stablecoin](https://www.wsj.com/finance/banking/banks-fought-against-stablecoins-now-they-are-considering-launching-their-own-896b691e) would sit alongside [JPM Coin](https://www.jpmorgan.com/kinexys/digital-payments/jpm-coin), its existing tokenized deposit product. Unlike tokenized deposits, which remain tied to money held at a specific bank, stablecoins can move more freely across wallets, apps, exchanges, and blockchains, suggesting JPMorgan sees a use case for both.
- **Not Open USD:** The major-bank consortium [discussed by the WSJ](https://www.wsj.com/finance/banking/banks-fought-against-stablecoins-now-they-are-considering-launching-their-own-896b691e) appears to be separate from Open USD, the 140+ member stablecoin network announced in June with Visa, Stripe, Mastercard, BlackRock, Coinbase, Google and banks including BNY and U.S. Bank. Neither Bank of America nor Wells Fargo was among [Open USD’s announced partners](https://www.onepay.com/newsroom/introducing-open-usd), making their participation in another bank-led stablecoin effort particularly notable.
- **Smaller Banks Build Too:** [BankChain Alliance](https://ncbankers.org/2026/08/25/north-carolina-bankers-association-supports-launch-of-industry-owned-blockchain-network/) plans to give smaller banks shared blockchain infrastructure supporting stablecoins, tokenized deposits, smart payments, and automated settlement, allowing them to compete with the "onchain-ification" of payments and deposits.
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