Deutsche Bank is considering the issuance of stablecoins or joining an industry-led stablecoin project.

On June 8, Bloomberg quoted Sabih Behzad, head of digital assets and currency transformation at Deutsche Bank, as saying that the bank is considering whether to issue its own stablecoin or join a broader industry partnership program. According to the report, the bank is also evaluating the development of a tokenized deposit system to improve payment efficiency. Currently, large banks in the United States are weighing the possibility of launching a joint stablecoin in response to competition from the cryptocurrency space. Financial giants such as JPMorgan Chase (JPM), Bank of America (BAC), Citigroup © and Wells Fargo (WFC) were reportedly involved. With EU regulation clarifying and US stablecoin legislation imminent, the pace of stablecoin adoption is accelerating. According to Behzad, banks can choose to act as reserve managers or issue their own digital tokens. Deutsche Bank previously noted in a research note that stablecoins are on the verge of mainstream adoption as cryptocurrency legislation gains momentum under the leadership of the Donald Trump administration. At the same time, Germany’s largest bank has also invested in Partior, a cross-border payments company, and has joined the central bank-backed Project Agorá, which focuses on a wholesale-level tokenized payment system.