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Banks Launch Consortium to Create New Stablecoin Issuing Company

Guavy AI Editorial Team
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A consortium of 21 global banks is set to launch a new stablecoin issuing company. The group, which includes Lloyds Banking Group, Capital One, and BBVA, aims to create a USD-denominated stablecoin solution for cross-border payments and digital asset settlements.

The project was initially announced in October 2025 by a smaller group of banks, including Banco Santander, Bank of America, and Barclays. The new additions to the consortium include Fidelity Investments, PNC Financial Services, and Scotiabank.

The company plans to offer a GENIUS Act and MiCA-compliant stablecoin solution that will facilitate transactions across wholesale, institutional, and retail markets. The group aims for its stablecoin solution to go to market in the first half of 2027.

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