Top Banks Unite for Regulated Stablecoin Push

A coalition of top financial institutions is pushing to launch a regulated stablecoin. The group, which includes Bank of America Corp., Goldman Sachs Group Inc., and Citigroup Inc., aims to bring bank-grade distribution and institutional liquidity to the market.

The consortium plans to initially focus on a U.S. dollar-denominated stablecoin, with expansion into other G7 currencies, starting with the euro. This new company is expected to be formed in the second half of 2026, with the stablecoin solution set to go live in the first half of 2027.

This move builds on an earlier announcement from October 2025, where a group of 10 banks explored a 1:1 reserve-backed digital currency. The initiative now encompasses 21 institutions across North America, Europe, East Asia, the Middle East, and Africa.