For a long time, banks didn’t trust crypto. But now, big names like Bank of America, Citigroup, and JPMorgan are starting to look at stablecoins more seriously. They aren’t launching anything yet, but they’re studying it, testing ideas, and waiting for clear rules.
This shows a big shift in traditional finance banks are no longer ignoring crypto.
So, What Is USTC?
USTC is a stablecoin from the Terra Classic chain. It was meant to stay at $1 using an algorithm. But in 2022, that system failed and USTC crashed. Many thought it was dead.
But the Terra Classic community is still trying. They stopped creating new USTC and are working to bring it back. Some even talk about KRTC (a Korean version) and EUTC, Euro versions of USTC.
Why It Matters
Banks are only now starting to look at stablecoins. But Terra Classic already built one and is trying to fix it. Even though USTC failed once, it shows how crypto can move faster than banks. Now both sides are watching each other.