G20 Backs Digital Assets While Major Banks Plan Stablecoin Launch

G20 members have given their backing to the growth of digital assets while also recognizing the need for clear regulatory pathways. The group emphasized that innovation should not come at the expense of financial stability or trust in payment systems.

The statement from the G20, which includes finance ministers and central bank governors, highlights the potential benefits of digital assets in supporting economic growth. It also stresses the importance of preserving financial stability and confidence in monetary and payment systems.

The push for clearer rules comes as 21 major banks, including Goldman Sachs, Citi, and Bank of America, plan to establish a stablecoin enterprise by the second half of 2026. The consortium has set a deadline to launch their product to market in the first half of 2027.

The G20 is also awaiting the Financial Stability Board's findings on the cross-border implications of global stablecoin arrangements. Members have backed further improvements to cross-border payments, including longer operating hours for large-value payment systems and wider adoption of the ISO 20022 messaging standard.