The SEC's Blockchain plan will change Wall Street forever

• Twenty major banks are building a stablecoin company, aiming for a dollar token by 2027 and a euro version thereafter.
• These stablecoins will operate on public blockchains, a critical departure from traditional private bank networks.
• This initiative is expected to significantly disrupt the existing stablecoin market, challenging the positions of Circle and Tether.

Twenty major banks, including Citi, Goldman Sachs, and Bank of America, are collaborating to launch their own stablecoin company, targeting a dollar token by 2027 on public blockchains. This strategic move is poised to fundamentally alter Wall Street's digital asset landscape, potentially eroding the market advantage of current stablecoin leaders like Circle and Tether.