21 Banks Unite for Dollar Stablecoin Launch by Mid-2027

Twenty-one major financial institutions are teaming up to launch a dollar-pegged bank-backed stablecoin in the first half of 2027. The consortium, which has grown from an initial 10 banks in October 2025, includes prominent names such as Goldman Sachs, Bank of America, Citi, and Deutsche Bank.

The project aims to provide a bank-backed alternative for crypto and international payments. The participating banks also plan to explore the development of stablecoins for other G7 currencies, including the euro.