A consortium of 21 international financial institutions, including Bank of America, Citigroup, Morgan Stanley, Goldman Sachs, Deutsche Bank, and others, announced plans to launch a new company in the second half of 2026 to issue stablecoins. The company will initially focus on a USD-pegged stablecoin, with plans to expand to other G7 currencies, prioritizing the euro. The stablecoin will target wholesale, institutional, and retail markets, for use cases such as cross-border payments and digital asset settlement. The group emphasized that the stablecoin will incorporate bank-grade compliance, governance, and institutional risk management, and aims to comply with the US GENIUS Act and the EU's MiCA framework. The target launch date for the stablecoin product is the first half of 2027.
On September 1, a group of 21 international financial institutions said they plan to set up a new company in the second half of 2026 to issue stablecoins. The company’s name still hasn’t been revealed. At the start, it will center on a USD-pegged stablecoin. After that, the plan is to expand into other G7 currencies, with the euro first in line.
Participating Banks
The list of participants includes Bank of America, Citigroup, Morgan Stanley, Goldman Sachs, Deutsche Bank, UBS, Wells Fargo, BBVA, Santander, and MUFG Bank, among others.
Market and Compliance
The stablecoin is being built for wholesale, institutional, and retail markets. The target uses are cross-border payments and digital asset settlement. The group said the stablecoin solution will include bank-grade compliance, governance, and institutional risk management capabilities. And yes, it plans to follow relevant regulatory frameworks, including the US GENIUS Act and the EU's Markets in Crypto-Assets (MiCA) regulation. The project is aiming to launch the stablecoin product in the first half of 2027.
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