Global Banks Unite for Stablecoin Venture

A group of major financial institutions has come together to create a company that will issue stablecoins for payments and digital asset transactions.

The venture, which is set to be established in the second half of the year subject to closing conditions, plans to start with a U.S. dollar-denominated stablecoin and bring it to market in the first half of 2027.

The company aims to add stablecoins tied to other Group of Seven currencies later, with a euro-denominated token being a priority.

The project grew from an initiative announced in October 2025, when 10 banks said they were exploring a digital payment asset backed one-for-one by reserves and available on public blockchains.