Major banks, including JPMorgan Chase (JPM), are becoming more open to launching their own stablecoins despite earlier doubts about demand, The Wall Street Journal reported Wednesday, citing unnamed people familiar with the matter.

According to the report, JPMorgan recently evaluated whether it could introduce its own stablecoin, though discussions are still preliminary and no product is currently in development. However, the bank already has a tokenized deposit called JPM Coin and its own blockchain, the report added.

The bank said it has no plans to issue a stablecoin for now but could consider it based on customer demand and regulatory developments, the report said.

JPMorgan didn't immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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