Deutsche Bank is studying stablecoins and tokenized deposits as part of its growing digital assets strategy, joining other major banks exploring blockchain infrastructure for payments and settlement.

The bank is considering whether to issue its own stablecoin or join a broader industry initiative, Bloomberg reported, citing Sabih Behzad, Deutsche Bank’s head of digital assets and currencies transformation.

It’s also weighing the development of a tokenized deposit system aimed at making payments more efficient, according to the report.

Major banks in the U.S. are currently weighing the launch of a joint stablecoin in a bid to fend off competition from the cryptocurrency space. These reportedly include heavyweights like JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C) and Wells

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