Chime Weighs Adding Stablecoins to Consumer Banking App

Chime Financial is exploring the addition of stablecoins as a feature in its consumer banking app, according to Bloomberg. The FinTech firm has asked blockchain technology companies to submit proposals for providing stablecoin wallet services that would enable Chime customers to send and receive digital assets without needing a separate account or provider.

This move aligns with the company's previous involvement with Open USD, a new stablecoin for global money movement, which it signed up to use in June. In fact, Chime CEO Chris Britt said at the time that 'stablecoins are a breakthrough technology' and that realizing their potential requires a common framework for moving value across the digital economy.

A recent PYMNTS Intelligence report found that 77% of consumers would open a crypto or stablecoin wallet through their existing banking or FinTech application if offered, while 71% of stablecoin holders would use a linked debit card to spend them.