21 Global Firms Unite to Launch USD Stablecoin in H1 2027
Twenty-one global financial institutions are planning to launch a USD stablecoin in the first half of 2027. The consortium, which includes Goldman Sachs, Citi, and Bank of America, aims to create a 1:1 reserve-backed token on public blockchains that can support wholesale, institutional, and retail transactions.
The initiative has expanded since its announcement in October 2025, with the addition of several new members from North America, Europe, East Asia, the Middle East, and Africa. The institutions plan to utilize their distribution platforms alongside compliance, governance, and risk management infrastructure for the project.
This banking-led project will face off against existing dollar-backed tokens in cryptocurrency trading, as well as rival stablecoins issued by other financial firms. The consortium members are positioning the upcoming USD stablecoin as a regulated alternative for global payments and settlement.