Major Banks to Launch Dollar Stablecoin Amid Growing Institutional Adoption

Financial institutions are deepening their involvement in cryptocurrencies as 21 major banks plan to launch a dollar-denominated stablecoin. The group, which includes Goldman Sachs and Bank of America, aims to establish a company that will issue the stablecoin by the first half of 2027.

The consortium has expanded from its initial 10 bank members to include 21 institutions. They intend to create a dedicated company this year before launching their dollar-pegged stablecoin in the first half of next year. The firms also plan to expand into stablecoins pegged to other G7 currencies, with the euro as a priority.

This move puts traditional finance deeper into digital assets just as AlphaPepe builds toward its own market debut. AlphaPepe has now raised $2.58 million and attracted more than 11,500 holders while remaining available at $0.02873 before a planned listing price starting from $0.08.