Global Banks Unite for Dollar Stablecoin Launch in 2027
A consortium of 21 global financial heavyweights is set to launch a US dollar-pegged digital currency in the first half of 2027. The group, spanning North America, Europe, East Asia, the Middle East and Africa, includes Bank of America (BAC), Goldman Sachs (GS), Citigroup (C), Wells Fargo (WFC), Deutsche Bank (DB) and UBS (UBS).
The institutions intend to establish a new company in the second half of 2026 as the issuing entity. The initial focus will be on a dollar-denominated stablecoin, with a euro offering identified as the next priority.
The consortium plans to broaden issuance to other G7 currencies in the long term. The stablecoin is designed for wholesale, institutional and retail markets, targeting use cases such as cross-border payments and digital asset settlement.