Big Banks Join Crypto Market With Planned Stablecoin Launch

Guavy AI Editorial Team Published September 2, 2026

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BTC

A group of 21 major financial institutions plans to launch a U.S. dollar-pegged stablecoin by 2027.

The initiative comes amid renewed interest in cryptocurrency, driven by Bitcoin's recent price surge.

Tether and Circle currently dominate the stablecoin market, but competition may increase with this move.

The group includes Bank of America (BAC), Capital One (COF), Citi (C), Goldman Sachs (GS), and Wells Fargo (WFC).

The Wire

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