Twenty-one international financial institutions, including Bank of America, Citigroup, Morgan Stanley, Goldman Sachs, Deutsche Bank, UBS, and Wells Fargo, have announced plans to form a new company in the second half of 2026 to issue stablecoins. The initiative will initially focus on a USD-pegged stablecoin, with plans to expand to other G7 currencies, prioritizing the euro. Targeting wholesale, institutional, and retail markets, the stablecoin will be used for cross-border payments and digital asset settlement. The group aims to comply with the US GENIUS Act and EU MiCA regulations, with a target launch in the first half of 2027.
CoinDesk reports that 21 international financial institutions plan to set up a new company in the second half of 2026 to support stablecoin issuance. The entity’s exact name has not been revealed yet.
At the start, the company will center on a USD-pegged stablecoin. After that, it plans to move into other G7 currencies, with the euro first in line. The institutions involved include Bank of America, Citigroup, Morgan Stanley, Goldman Sachs, Deutsche Bank, UBS, Wells Fargo, BBVA, Santander, and MUFG Bank, among others.
The stablecoin effort is aimed at wholesale, institutional, and retail markets. Its use cases include cross-border payments and digital asset settlement. The group said the stablecoin solution will include bank-grade compliance, governance, and institutional risk management. And it will try to match regulatory rules such as the US GENIUS Act and the EU's Markets in Crypto-Assets (MiCA) regulation. The project is targeting an official launch of the stablecoin product in the first half of 2027.
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