21 Banks Join Forces to Launch a Dollar Stablecoin in First Half of 2027
Twenty-one financial institutions are joining forces to develop a dollar-pegged stablecoin, marking a major push by traditional banks into digital payments.
Goldman Sachs, Bank of America, Citi and Deutsche Bank are among the banks helping establish the company this year. The group plans to launch the stablecoin in the first half of 2027, adding a bank-backed alternative to the growing market for dollar-backed digital assets.
Banks Expand Stablecoin Plans
The group started in October 2025 with 10 banks. Its membership has now reached 21. The banks also want to issue stablecoins for other G7 currencies, including the euro.
Related: Arthur D. Little Analyst Reveals Why the UAE Is Winning the Stablecoin Race
Stablecoins already play a role in crypto trading and international payments. The banks are looking at other uses, including payments between countries and finan…
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