Major Banks Expand Stablecoin Integration Despite CLARITY Act Setback

Following the failure of the CLARITY Act, major financial institutions are increasing their involvement in the crypto sector. Citi has integrated its corporate clients into stablecoin payment systems via Coinbase, while Goldman Sachs and Franklin Templeton are utilizing crypto infrastructure for Treasury funds. Additionally, Coinbase has secured a CFTC clearinghouse, and the SEC has issued new crypto guidance.