Zelle parent company EWS is considering launching stablecoin

Huobi HTX reported that Early Warning Services (EWS), the banking alliance behind the US transfer platform Zelle, is considering entering the cryptocurrency field and exploring the development of its own stablecoins. According to sources, EWS is actively researching the infrastructure needed to create and issue stablecoins for everyday banking consumers. The move is still in its infancy, but could make EWS a key player in digital currency adoption by U.S. retail banking customers. EWS is backed by major financial institutions such as Bank of America, JPMorgan Chase, Wells Fargo and PNC, and competes with platforms such as Venmo and CashApp through the Zelle platform. Last year, Zelle handled more than $1 trillion in transaction volume, showing its wide adoption and influence in the peer-to-peer payments market.