A consortium of 21 international financial institutions will establish a new stablecoin company. The group includes Citigroup, Bank of America, Goldman Sachs, and Deutsche Bank. The partners plan to form the entity in the second half of 2026.
The venture targets a market launch for a U.S. dollar-denominated stablecoin in the first half of 2027. The group intends to expand into other G7 currencies later, prioritizing the euro.
The project will serve wholesale, institutional, and retail markets. The venture will facilitate cross-border payments and digital asset settlements. The initiative aims to comply with the U.S. GENIUS Act and Europe’s MiCA regulatory frameworks.