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21 Global Financial Institutions Plan USD Stablecoin Launch
A consortium of 21 global financial institutions, including Goldman Sachs, Bank of America, Citi, and Deutsche Bank, has announced plans to launch a U.S. dollar-pegged stablecoin. The group, which has expanded from an initial 10 banks in October 2025, intends to establish a new dedicated company in the second half of 2026.
The planned stablecoin is targeted for a market launch in the first half of 2027. It is designed to operate on public blockchains and will be 1:1 reserve-backed. The initiative aims to serve wholesale, institutional, and retail markets, with specific use cases including cross-border payments and digital asset settlements.
Beyond the U.S. dollar, the consortium plans to expand its offerings to other G7 currencies, identifying the euro as a primary priority. The project aims to maintain compliance with the U.S. GENIUS Act and the European Union’s MiCA regulations. The participating members represent five major regions: North America, Europe, East Asia, the Middle East, and Africa.
Entities
Bank of America · Citi · Deutsche Bank · Goldman Sachs · MUFG Bank · Mitsubishi UFJ Financial Group · Mizuho Financial Group · Sumitomo Mitsui Financial Group · UBS
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 26 SOURCES] A group of 21 financial institutions plans to establish a new company to issue dollar-pegged stablecoins. www.tfmedia.co.kr · www.borsaningundemi.com · halktv.com.tr · zdnet.co.kr · altcoininvestor.com · +19 more
- [● 16 SOURCES] The stablecoin will comply with the GENIUS Act in the US and MiCA regulations in the EU. www.tfmedia.co.kr · altcoininvestor.com · www.cryptobreaking.com · cryptobriefing.com · cointelegraph.com · +9 more
- [● 18 SOURCES] The stablecoin is intended for use in cross-border payments, digital asset settlements, and wholesale, institutional, and retail markets. www.borsaningundemi.com · halktv.com.tr · www.tfmedia.co.kr · altcoininvestor.com · www.cryptobreaking.com · +11 more
- [● 24 SOURCES] The stablecoin is targeted for market launch in the first half of 2027. www.tfmedia.co.kr · www.borsaningundemi.com · halktv.com.tr · zdnet.co.kr · altcoininvestor.com · +17 more
- [● 17 SOURCES] The new company is scheduled to be established in the second half of 2026. www.tfmedia.co.kr · www.borsaningundemi.com · halktv.com.tr · zdnet.co.kr · altcoininvestor.com · +9 more
- [● 24 SOURCES] The project aims to expand from the US dollar to other G7 currencies, with the euro as a priority. www.tfmedia.co.kr · www.borsaningundemi.com · halktv.com.tr · zdnet.co.kr · altcoininvestor.com · +17 more