Dutush Bank is studying Stabecrims and token deposits as part of its growing digital assets strategy, discovering blockchain infrastructure for payment and disposal in other major banks.
The bank is considering whether to release its own stabecoin or to join a broad industry initiative, Bloomberg reported, Sabih Behzad, citing the head of the change of digital assets and currencies of Dutash Bank.
According to the report, it is also weighing the development of a token deposit system for the purpose of making the payment more efficient.
The US major banks are currently weighing the launch of a joint stabelcoin in a bid to remove competition from the cryptocurrency space. These reportedly include heavyweights like JPMORGAN Chase (JPM), Bank of America (BAC), Citigroup (C) and Wales Fargo (WFC).
Regulatory clarity in the European Union and pending Stabecrim law in the US have helped accelerate stabelcoin. Behzad said that banks have options that are from acting as reserved managers to launch their own digital tokens.
Dutash Bank said in a research report that the Crypto law under Stabecin Donald Trump Administration is on the verge of adopting the mainstream as advances.
Germany’s largest lender, meanwhile, has invested in the border-cross-payment firm Partier and joined the Project Agorá, a central bank-supported initiative that focuses on wholesale tokens.
