Bloomberg Law News·1 min read·medium
Zelle Starts Minting New Stablecoin, Eyeing Global Expansion
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Paige Smith, Chloe Cresswell
✦AI Summary
Zelle has begun minting its own US dollar-backed stablecoin, ZelleUSD, to compete with established cryptocurrency firms. The initiative is backed by major US banks, including JPMorgan Chase and Bank of America, as part of a strategy to expand their international payment reach.
Digital payments platform Zelle has started minting its US dollar-backed stablecoin, moving it one step further in an effort by Wall Street to compete globally with established crypto firms.
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