The news comes at a time when many banks are considering issuing their own private stablecoins.
Banco Santander SA, a global banking institution, is considering expanding crypto services to retail clients and potentially launching a stablecoin product.
The stablecoin plans are still in the early phases. According to a May 29 Bloomberg report, the bank is considering offering both dollar and euro-pegged fiat tokens.
Large banking institutions, including JPMorgan, Bank of America, Citigroup and Wells Fargo, are reportedly looking into launching stablecoins, following an industry-positive regulatory shift in the United States under US President Donald Trump.
