TechFlow news, September 15 — According to Crowdfundinsider, the banking consortium Early Warning Services (EWS), which operates the U.S. money transfer platform Zelle, is considering entering the cryptocurrency space by exploring the development of its own stablecoin.
According to sources, EWS is actively studying the infrastructure required to create and issue a stablecoin aimed at everyday banking consumers. The initiative is still in its early stages, but could position EWS as a key player in driving digital currency adoption among U.S. retail banking customers.
EWS is backed by major financial institutions including Bank of America, JPMorgan Chase, Wells Fargo, and PNC, and competes with platforms such as Venmo and CashApp through its Zelle network. Last year, Zelle processed over $1 trillion in transaction volume, demonstrating its widespread adoption and influence in the peer-to-peer payments market.
