{"id":852203,"date":"2025-05-30T09:11:37","date_gmt":"2025-05-30T14:11:37","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/30\/santander-considers-issuing-stablecoin-retail-crypto-services\/"},"modified":"2025-05-30T09:11:37","modified_gmt":"2025-05-30T14:11:37","slug":"santander-considers-issuing-stablecoin-retail-crypto-services","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/30\/santander-considers-issuing-stablecoin-retail-crypto-services\/","title":{"rendered":"Santander considers issuing stablecoin, retail crypto services"},"content":{"rendered":"
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The news comes at a time when many banks are considering issuing their own private stablecoins. <\/p>\n

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\"Santander<\/picture><\/div>\n
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Banco Santander SA, a global banking institution, is considering expanding crypto services to retail clients and potentially launching a stablecoin product.<\/p>\n

The stablecoin plans are still in the early phases. According<\/a> to a May 29 Bloomberg report, the bank is considering offering both dollar and euro-pegged fiat tokens.<\/p>\n

Large banking institutions, including JPMorgan, Bank of America, Citigroup and Wells Fargo, are reportedly looking into launching stablecoins<\/a>, following an industry-positive regulatory shift in the United States<\/a> under US President Donald Trump.<\/p>\n

Proponents of stablecoins argue they are a way to extend US dollar dominance<\/a>, increase the velocity of capital in payment systems<\/a>, bank the unbanked, and expose small businesses to global capital markets.<\/p>\n

\"Banks,
Current overview of the stablecoin market. Source: <\/em>RWA.XYZ<\/em><\/a><\/figcaption><\/figure>\n

Related: <\/strong><\/em>UK FCA requests public comments on stablecoin, crypto custody regulation<\/strong><\/em><\/a><\/p>\n

Banking industry remains divided on stablecoins <\/h2>\n

Although several large banking conglomerates and financial services are mulling issuing dollar-pegged stablecoins, others in the banking industry are opposed to the proliferation of such assets.<\/p>\n

Banking lobbyists and their allies in the US Senate attempted to block stablecoin legislation<\/a> over fears that the digital fiat tokens will erode banking profits and steal market share from the legacy financial system. Yield-bearing stablecoins were a significant concern raised by the banking lobby and some US lawmakers.<\/p>\n

\u201cDo you want a stablecoin issuer to be able to issue interest? Probably not, because if they are issuing interest, there is no reason to put your money in a local bank,\u201d\u00a0US Senator Kirsten Gillibrand said<\/a>\u00a0at the DC Blockchain Summit in March 2025.<\/p>\n