More than 20 major financial institutions, including Bank of America, Citigroup, Goldman Sachs, Deutsche Bank, UBS, Fidelity, Wells Fargo, and MUFG, have pledged to jointly establish a new company to issue a U.S. dollar-pegged stablecoin. This move marks a significant entry of traditional finance into the stablecoin space.
More than 20 major financial institutions — including Bank of America, Citigroup, Goldman Sachs, Deutsche Bank, UBS, Fidelity, Wells Fargo, and MUFG — have agreed to jointly set up a new company to issue a U.S. dollar-pegged stablecoin.
And that marks a coordinated move by traditional finance heavyweights into the stablecoin market.
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