Banks Go Blockchain: Goldman Sachs & Co. in Crypto Circus 🎪💰

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So, apparently, Goldman Sachs, Deutsche Bank, and a bunch of their fancy friends-Bank of America, Santander, and some other suits-decided to form a blockchain supergroup. 🕴️✨ Nine banks, one mission: to turn money into ones and zeros. Because, you know, paper money is so last century. 📜➡️💻

Joining the party are BNP Paribas, Citigroup, MUFG, TD Bank, and UBS. Together, they’re cooking up a 1:1 reserve-backed digital money thingamajig on public blockchains. First stop: G7 currencies. Because why not start with the big leagues? 🌍💸

Banks Dive into Blockchain Money Pool-Turns Out They Can Swim? 🏊‍♂️💼

According to Bloomberg (you know, the folks who make financial news sound important), these banks are chatting up regulators like they’re at a cocktail party. 🍸 Their goal? To make payments “efficient.” Because apparently, waiting 3 days for a wire transfer is just too much in 2025. 😒

Meanwhile, stablecoins are having a moment. Corporations are all like, “Ooh, crypto without the volatility? Sign us up!” 🤑 But let’s be real-banks are just jealous they didn’t think of it first. Now they’re playing catch-up, pretending it’s all part of their master plan. 🏦🤡

Stablecoins are mostly for crypto trading, but banks see them as the next big thing for instant settlements and cost-cutting. Because nothing says innovation like slashing fees and speeding up transactions. 🚀✂️

Global stablecoin supply hits $303 billion, Oct. 10, 2025. Source: DeFillama. Or, as I like to call it, “a lot of zeros.” 🌐💵

DeFillama says the stablecoin sector is up $100 billion this year. Which is great, unless you’re still trying to figure out how to pronounce “DeFillama.” 🐸📈

Trump’s Genius Act: Because Nothing Says ‘Genius’ Like Crypto Regulation 🤔🤦‍♂️

Thanks to Trump’s Genius Act (yes, that’s a real thing), everyone’s suddenly into digital currencies. Regulatory clarity? Check. Institutional participation? Double check. Now we just need a law called the “Common Sense Act.” 📜🤷‍♂️

In Europe, nine banks are working on a euro-denominated stablecoin. Because, you know, the dollar needs some competition. 🇪🇺💪 Meanwhile, North Dakota’s launching the “Roughrider Coin.” Because why should big banks have all the fun? 🏇💰

So there you have it. Banks are going blockchain, Trump’s a genius, and North Dakota’s in the crypto game. What a time to be alive. 🌍🤯

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2025-10-11 02:37