Goldman Sachs and Bank of America Join 21-Bank Dollar Stablecoin Plan
Twenty-one financial institutions, including Goldman Sachs, Bank of America, Citi, Fidelity Investments and Wells Fargo, announced on September 1 that they plan to establish a new company in the second half of 2026 to support the issuance of a stablecoin solution. The immediate step is the formation of the venture, rather than the issuance of a token.
The group is targeting a market launch for an initial US dollar-denominated stablecoin in the first half of 2027, according to the announcement published by Wells Fargo.
21 institutions set second-half 2026 formation timeline
The participant roster spans North America, Europe, Asia, the Middle East and Africa. Alongside Goldman, Bank of America, Citi, Fidelity and Wells Fargo, it includes UBS, Deutsche Bank, Santander, BBVA and MUFG Bank.
The institutions said they would create a new company during the second half of 2026 to support issuance of the stablecoin solution. The announcement did not set out further operational details in the information provided.
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