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Crypto

Banks Plan Dollar-Pegged Cryptocurrency for 2027 Amid Sector Revival

Guavy AI Editorial Team
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A group of 21 financial institutions, including Goldman Sachs and Bank of America, plans to launch a dollar-pegged cryptocurrency in the first half of 2027.

The company will also explore stablecoins pegged to other G7 currencies, with the euro as a priority. This move comes after a rebound in cryptocurrency prices in 2024 and President Donald Trump's support for the sector.

The consortium plans to compete with Qivalis, a separate group of 37 financial institutions that will launch a euro-pegged stablecoin later this year.

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