Forex
Financial Giants Unite for Dollar Stablecoin
A group of 21 global financial institutions plans to form a company later this year to issue a U.S. dollar-denominated stablecoin, marking a significant push into the market by traditional finance.
The still-unnamed venture expects to introduce the stablecoin in the first half of 2027, subject to closing and regulatory conditions.
The consortium includes Bank of America, Citi, Goldman Sachs, and Wells Fargo, among others, with over 37 members since the initial 10-bank exploratory project in October 2025.