Consortium of 21 Banks to Launch Stablecoin Targeting 2027 Debut
A consortium comprising 21 major global banks is preparing to launch a new stablecoin pegged to the US dollar, with plans for its market debut in early 2027. The initiative aims to provide a secure and compliant digital currency solution across wholesale, institutional, and retail segments, focusing on cross-border payments and asset settlement. The group includes prominent banks such as Bank of America (BAC), Goldman Sachs, Deutsche Bank, and Santander among others from multiple regions worldwide. It builds upon earlier efforts that began in October 2025 with a smaller set of ten institutions exploring reserve-backed digital money. The new venture emphasizes bank-grade compliance, governance, and risk management. The stablecoin will be designed to comply with regulatory frameworks such as the GENIUS Act and MiCA where applicable. Additional updates are expected as development progresses.
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Topics: banking consortium cross-border payments digital currency stablecoins