Banks Join Forces on Stablecoin Launch Targeting 2027

A group of 21 major financial institutions, including Goldman Sachs and Bank of America, plans to launch a U.S. dollar-denominated stablecoin in the first half of 2027.

The initiative was announced on September 1, with the group aiming to form a new stablecoin company by the second half of 2026, subject to closing conditions.

The proposed stablecoin will be used for blockchain payments, settlement, and cross-border transactions, with the group also looking to develop stablecoins linked to other G7 currencies, such as the euro.