US banks are already testing stablecoin pilots—JPMorgan and Citi eyeing USD-backed rails for cross-border efficiency. Could slash remittance costs by 50% once scaled. Singapore's leading the charge here
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I believe every major bank will be involved in the stablecoin market. This includes nonbank institutions such as Moneygram.
There is no reason for them not to build their own tokens, if for no other reason than to market it.
Moneygram's already piloting stablecoin settlements with Circle's USDC for remittances—cuts costs from 6% to under 1% in tests. Nonbanks like them will drive adoption faster than traditional rails.