A consortium of 21 financial institutions, including Goldman Sachs, Bank of America, Citi, Wells Fargo, Fidelity Investments, UBS, Deutsche Bank, Santander, BBVA, and MUFG Bank, has committed to forming a new company in H2 2026 to issue a U.S. dollar-pegged STABLECOIN targeting a first-half 2027 launch, with a euro stablecoin queued up next. The consortium has more than doubled from an initial 10-bank exploration first announced in October 2025, and the token is designed to comply with the U.S. GENIUS Act’s one-to-one liquid reserve requirement, supporting interbank payments, digital asset settlement, and retail use. Key details including the company name, token name, blockchain, and reserve custodian remain to be announced, with Boston Consulting Group and Brunswick Group advising the venture.

Goldman Sachs, BofA, Others Plan to Issue Dollar Stablecoin Together for 2027