So-called America’s largest banks; Banks such as JPMorgan, Bank of America, Wells Fargo are preparing to issue a joint digital wallet.
The rise of the crypto money markets has also brought up the issues of regulation and supervision. Amid growing controversy, another move came from America’s largest banks. JPMorgan, Bank of America, Wells Fargo and many banks have stepped up their steps on digital assets. Banks that want to rival Apple Pay and PayPal are preparing to create a digital wallet with the help of Zelle.
American Banks Are Launching Digital Wallets
America’s giant banks want to take advantage of the market share of payment giants Apple Pay and PayPal. Banks took action to jointly create a digital wallet.
Partner banks; It became JPMorgan, Bank of America, Wells Fargo, Capital one Financial, US Bancorp, PNC Financial Services Group, and Truist Financial.
Help was requested from Zelle, which provides money transfer services, in the creation of the wallet. With the implementation of this wallet, a new one will be added to the initiatives of banks in the field of digital assets. According to the news, the digital wallet of banks may be released in the second half of 2023.