21 Banks Unite to Launch Regulated Dollar Stablecoin by 2027

A consortium of 21 major banks, including Goldman Sachs and Citi, is planning to launch a regulated US dollar stablecoin by the first half of 2027.

The project marks the next phase of an initiative announced in October 2025, when an initial group of 10 banks began exploring the feasibility of a 1:1 backed digital currency accessible on public blockchains.

The number of participants has since grown to 21, spanning banks and financial firms across North America, Europe, Asia, the Middle East, and Africa.

The new company plans to operate on a global scale, with the initial product being a stablecoin denominated in US dollars. Following the dollar launch, the consortium intends to expand issuance to other G7 currencies, with a Euro-denominated stablecoin listed as a priority.