21 Banks to Launch Dollar-Pegged Cryptocurrency in 2027

A group of 21 financial institutions, including Goldman Sachs and Bank of America, plans to create a company this year to issue a dollar-pegged cryptocurrency by mid-2027.

The initiative aims to expand into stablecoins pegged to other G7 currencies, with the euro as a priority.

Stablecoins are used for cross-border payments and digital asset settlements, and the new product will combine bank-grade compliance and strong governance.

The group intends to be compliant with relevant regulations, including the GENIUS Act and MiCA.