Zelle owner Early Warning Services exploring stablecoin for retail bank customers

Core Insights - Early Warning Services plans to explore issuing its own stablecoin for retail bank customers, focusing on the infrastructure needed for this initiative [1][2] - The stablecoin is intended to provide a way for customers at major US banks to use stablecoins for everyday payments, starting with a small-scale test project [2] - The Clearing House is also considering stablecoin initiatives, although discussions have not progressed beyond the initial stage [2][3] Company Overview - Early Warning Services is a fintech company jointly owned by major US banks, including JPMorgan Chase, Bank of America, Wells Fargo, Capital One, and PNC [5] - The company operates the Zelle payments network, which processed over $1 trillion in payments volume last year and reached a record of $108 billion in a single month [5] Industry Context - Stablecoins have gained significant attention from Wall Street, with ongoing debates about their adoption among everyday users and financial institutions [4] - The recent signing of the Genius Act by President Trump established a federal framework for dollar-backed payment stablecoins, allowing banks and fintech firms to issue regulated versions [7]