Consortium of 21 banks to launch dollar stablecoin early 2027
Business
21 financial institutions, including Goldman Sachs and Deutsche Bank, are teaming up to launch a dollar-pegged stablecoin by early 2027.
The group started with just 10 banks back in 2025 and is forming a new company this year to make the stablecoin happen.
Stablecoin plans face rivals, ECB concern
They're also eyeing euro and other G-7 currency stablecoins, riding the wave of renewed interest in crypto and blockchain tech.
Their project will compete with another consortium of 37 financial institutions launching a euro-pegged coin soon, plus they'll be up against Tether, the current market leader.
Meanwhile, ECB President Christine Lagarde has flagged concerns about private stablecoins affecting financial stability.