According to CoinMeta, and as reported by The Wall Street Journal, major American and international banks are re-evaluating stablecoins due to the expansion of crypto companies and tech groups in the payment sector. Although this shift is still in its preliminary stages, JPMorgan Chase has stated that it currently has no plans to issue a stablecoin, and the consortium projects mentioned in several reports have not yet announced a start date, product structure, or regulatory approval. JPMorgan Chase has recently discussed whether to issue its own stablecoin, although no active product development has begun yet. Jamie Dimon, the bank's CEO, has said that JPMorgan Chase will become more involved with stablecoins in order to understand its role and compete with fintech companies. JPMorgan Chase has already been operating JPM Coin through its blockchain platform Kinexys, which serves as a deposit token for customers' claims against JPMorgan Chase, rather than an independent payment stablecoin supported by a separate reserve portfolio. In addition, on August 25th, the Bankers Association of 39 States announced the establishment of the Bankchain alliance, which plans to support stablecoins, tokenized deposits, smart payments, and automatic settlements. The alliance's goal is to make its network interoperable with other payment systems by 2027.