Global Banks Plan To Launch Dollar Stablecoin In 2027
· Business · LiveMint, Reuters, Yahoo Finance
A consortium of 21 financial institutions, including Goldman Sachs, Bank of America, Citi, and Deutsche Bank, plans to launch a dollar-pegged cryptocurrency in early 2027. The group aims to expand into stablecoins linked to other G7 currencies, with the euro identified as a priority. This initiative follows a rebound in crypto prices and increased interest in blockchain applications within mainstream finance. The consortium will compete against a separate group of 37 institutions currently developing a euro-pegged stablecoin.
Why it matters
The entry of major global banks into the stablecoin market could bridge the gap between traditional finance and digital assets, though it faces competition from established players like Tether.
Read the original report — LiveMint
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