Group 1 - Standard Chartered Group has announced the launch of spot trading services for Bitcoin (XBT/USD) and Ethereum (XET/USD) through its UK branch, becoming the first global systemically important bank to offer such services [1] - Major global systemically important banks (G-SIBs) including Citigroup, JPMorgan, Morgan Stanley, and others are actively engaging in the cryptocurrency sector, with JPMorgan recently introducing a stablecoin-like token named JPMD for institutional clients [1][2] - The U.S. Congress has passed three bills related to stablecoins and cryptocurrencies, indicating a move towards more favorable regulatory policies for the cryptocurrency market [3] Group 2 - European banks such as UBS, Deutsche Bank, and HSBC are also entering the cryptocurrency space, with UBS successfully piloting a blockchain-based cross-border payment solution and Société Générale issuing a euro-based stablecoin [4] - Several international banks are forming partnerships with Chinese institutions, with HSBC launching a tokenized deposit management solution in Hong Kong and Deutsche Bank collaborating with Ant Group to explore tokenized deposits and stablecoin solutions [4] - The establishment of more platforms and subsidiaries by major banks aims to build a cryptocurrency ecosystem, with JPMorgan, Citigroup, and Société Générale creating dedicated digital asset platforms [5] Group 3 - The behavior of stablecoin users is seen as a threat to traditional banking operations, as businesses increasingly prefer to hold stablecoins for payments and liquidity management, which could weaken banks' control over funds [6] - Banks are responding by seeking to create "tokenized deposits" to enhance liquidity and customer engagement while maintaining regulatory compliance [6]

Group 1 - Societe Generale's subsidiary SG-FORGE plans to issue a publicly traded USD stablecoin, USD CoinVertible (USDCV), with trading expected to start in July [1][2] - SG-FORGE previously launched a euro stablecoin, EUR CoinVertible (EURCV), in 2023, but it has seen limited adoption, with a current circulating value of €41.8 million (approximately $47.62 million) [2][4] - The issuance of USDCV aims to meet the growing demand for regulated USD stablecoins and will support various customer activities, including crypto trading and cross-border payments [4][5] Group 2 - The USD stablecoin will be issued on Ethereum and Solana blockchains, allowing for 24/7 instant conversion between fiat and digital currencies [2][4] - BNY will act as the asset custodian for USDCV, enhancing the operational credibility of the stablecoin [2] - The launch of USDCV positions SG-FORGE to compete with existing stablecoins like USDC and USDT, as well as future bank-issued USD stablecoins [5][10] Group 3 - The global stablecoin market is seeing increased interest from various banks, including Deutsche Bank, Standard Chartered, and major U.S. banks, which are exploring their own stablecoin initiatives [6][8] - Stablecoins are characterized by their pegging to stable assets, making them suitable for various financial functions, including payment methods and value measurement [6] - The competitive landscape for stablecoins is expected to diversify, with banks leveraging their existing infrastructure and customer bases to promote their stablecoin offerings [10]