Big banks may have found their answer to the CLARITY Act’s stablecoin challenge

The Clearing House, the bank-owned operator of core U.S. payment infrastructure, is preparing a system that lets banks settle deposits on-chain.

Its June 5 announcement puts the largest U.S. banks behind a shared response to the stablecoin challenge: dollar payments can now move around the clock, across blockchain rails, with programmable settlement.

Banks want those features while retaining the…