365Crypto
Banco Santander, a major global bank, is thinking about launching crypto services for everyday customers. They may also create a stablecoin tied to the US dollar and euro.
This idea is still new. A Bloomberg report from May 29 says Santander is exploring tokens pegged to these currencies.
Other big banks like JPMorgan, Bank of America, and Wells Fargo are also looking into stablecoins. This comes after US regulators took a friendlier stance under President Trump.
Supporters say stablecoins can help keep the US dollar’s power, speed up payments, bring banking to unbanked people, and help small businesses access global markets.
But not everyone in banking likes stablecoins. Some fear these digital tokens might hurt bank profits and take away customers.
Some lawmakers and banking lobbyists in the US tried to stop laws supporting stablecoins. They worry about “yield-bearing stablecoins,” which pay interest.
Senator Kirsten Gillibrand said in March 2025: if stablecoins pay interest, why put money in a local bank? This could hurt loans to families and small businesses.
NYU professor Austin Campbell said yield-bearing stablecoins disrupt the traditional banking model that relies on low or no interest accounts. He criticized rules limiting these coins, saying only billionaires and bank bosses benefit.
