May 22 (Reuters) -

Some of the biggest U.S. banks are exploring whether to team

up to issue a joint stablecoin, The Wall Street Journal reported

on Thursday.

The conversations have so far involved companies co-owned by

JPMorgan Chase ( JPM ), Bank of America ( BAC ), Citigroup ( C/PN )

, Wells Fargo ( WFC ) and other large commercial banks, the

report said, citing people familiar with the matter.

However, the newspaper said that the bank consortium

discussions are in early, conceptual stages and could change.

Reuters could not immediately confirm the report. The banks

did not respond to Reuters' requests for comment late on

Thursday.

Stablecoins, a type of cryptocurrency designed to maintain a

constant value, usually pegged to a fiat currency such as U.S.

dollar, are commonly used by crypto traders to move funds

between tokens.

One bank consortium possibility that has been discussed

would be a model that lets other banks use the stablecoin, in

addition to the co-owners of the Clearing House and Early

Warning Services, the Journal said, citing unnamed sources.

Some regional and community banks have also considered

whether to pursue a separate stablecoin consortium, it added.

Trump has promised to be the "crypto president,"

popularizing its mainstream use in the U.S. He has said he backs

crypto because it can improve the banking system and increase

the dominance of the dollar.