A group of 21 financial institutions, including Bank of America, Citigroup, Goldman Sachs and Deutsche Bank, has committed to form a new company in the second half of 2026 to issue a stablecoin, according to Techub, citing BeInCrypto. The alliance plans to roll out a U.S. dollar stablecoin in the first half of 2027, followed by a euro-denominated version. It said the products will be structured to comply with the GENIUS Act and the Markets in Crypto-Assets framework, or MiCA. The report also points to broader bank activity in the sector: SoFi opened its SoFiUSD stablecoin to nearly 15 million in-app members in May, JPMorgan is running its JPMD deposit token on Base, and HSBC plans to launch a Hong Kong dollar stablecoin in the second half of 2026. StraitsX CEO Liu Tianwei said stablecoin issuance gives banks a way to stay relevant as financial infrastructure changes, while faster and cheaper settlement could pressure traditional banking revenue, especially in cross-border payments.

Real-world asset markets kept expanding in the latest weekly review covering Aug. 28 to Sept. 4, 2026, with on-chain RWA market value rising to $38.76 billion and the number of asset holders reaching 3.298 million, according to RWA.xyz data cited by PANews. Stablecoins also continued to grow, with aggregate market capitalization climbing to $303.21 billion and monthly transfer volume surging 48.83% from a month earlier to $7.17 trillion. On the policy side, the U.S. Securities and Exchange Commission proposed an overhaul of transfer agent rules that have seen little change since the late 1970s, aiming to address blockchain-based recordkeeping and tokenized securities. In Singapore, the Monetary Authority of Singapore opened a consultation on changes to the Payment Services Act that would create a formal stablecoin framework, including limits on interest payments and a path for limited cross-border recognition. South Korea’s Financial Services Commission, meanwhile, set out a three-stage roadmap for tokenized assets centered on Korea Exchange-led pilots. Corporate activity remained broad. Intercontinental Exchange took a stake in tZERO, the London Stock Exchange said it is working on tokenized UK shares with Payward, and 21 global financial institutions said they plan to form a stablecoin joint venture. Funding announcements also pointed to continued investment in settlement rails, remittances, and new collateral models tied to AI infrastructure.

SoFi Technologies and Payward, the parent company of Kraken, have announced a strategic partnership built around direct infrastructure integration rather than parallel expansion into each other’s core business. Under the agreement, Payward will join the SoFi Exchange Network, giving it access to 24/7 real-time U.S. dollar settlement. Kraken will also list SoFiUSD, a stablecoin issued directly by SoFi Bank, N.A., while SoFi will route part of its crypto order flow through Kraken Prime to improve execution for the 15.8 million users of the SoFi app through smart order routing across multiple venues. Kraken’s institutional clients, in turn, will gain access to SoFi’s Big Business Banking services, and the two sides said they plan to expand into qualified custody later on. The arrangement ties together bank deposits, on-chain settlement assets and exchange liquidity in a single framework. It also points to a broader shift in digital asset infrastructure: banks and crypto platforms are no longer trying to become each other, but are instead linking the systems they have already spent years building.

SoFi has launched its dollar-backed stablecoin SoFiUSD inside its app, giving 14.7 million members access to buy, sell, hold, and convert the token. The asset is issued by SoFi Bank and starts on Ethereum and Solana.

SoFi Bank launched SoFiUSD (SOFID), the first stablecoin issued by a US nationally chartered bank, on both Ethereum and Solana. Solana was chosen for its low cost and high throughput, targeting retail payments. Market cap hit $100M within hours.

SoFi and Mastercard integrate SoFiUSD as a settlement option on Mastercard's global network, enabling round-the-clock instant transaction settlement and expanding stablecoin use cases.

SoFi Technologies launches SoFi Big Business Banking, enabling enterprises to hold deposits and settle in fiat, SoFiUSD, and select cryptocurrencies 24/7 from a single nationally chartered bank. Initial partners include Cumberland, BitGo, Mastercard.

SoFi announces blockchain-powered global remittances and crypto investing relaunch for late 2025. CEO Anthony Noto says crypto and blockchain will completely reinvent financial services.