US banking networks weigh stablecoin initiatives

Early Warning Services (EWS), operator of the Zelle instant payments network, and The Clearing House (TCH) are both reported to be examining stablecoin initiatives.

US networks weigh stablecoin initiatives

The move underscores how mainstream banking players are beginning to move closer to digital asset infrastructure once dominated by fintech start-ups.

According to reports from Yahoo! Finance, EWS is exploring the issuance of a stablecoin that would be aimed squarely at retail banking customers.

The concept would be to give account holders a mechanism to use stablecoins for everyday payments in a way that dovetails with existing bank services.

EWS declined to comment publicly, but its involvement would represent a significant shift: Zelle already handles billions in peer-to-peer transfers each year, and embedding stablecoin functionality could open a path for wider adoption within regulated financial services.

TCH, the bank-owned payments operator behind the RTP network, is also said to be evaluating its own stablecoin options.

A spokesperson told Yahoo! Finance that stablecoins represent a “potential innovation” and confirmed that the organisation “always stays informed and evaluates emerging technologies and opportunities.”

These reports echo earlier discussions from May, when U.S. banks considered launching a consortium-backed stablecoin.

Unlike existing private-sector offerings, such a product would be fully backed by deposits held at regulated banks, with governance provided by established financial institutions — a design aimed at fostering greater trust and regulatory acceptance.

The competitive landscape is also evolving outside the banking sector.

This week Circle, issuer of the USDC stablecoin, announced a partnership with Fireblocks, a digital asset custody and payments provider.

The alliance will focus on enabling cross-border treasury functions and tokenised asset settlement for financial institutions, highlighting how stablecoins are increasingly positioned as a bridge between traditional banking and digital finance.