Twenty-One Banks and Asset Managers Committed to a Joint Dollar Stablecoin Company Targeting H1 2027
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Twenty-one financial institutions across five regions announced on September 1 that they will form a company in the second half of 2026 to issue a stablecoin, with a US dollar token targeted for market in the first half of 2027 and a euro token as the expansion priority. Members include Bank of America, Capital One, Citi, Fidelity, Goldman Sachs, PNC, Scotiabank, TD, Wells Fargo and WisdomTree in North America; Santander, BBVA, Commerzbank, Crédit Agricole, Deutsche Bank, Lloyds, Rabobank and UBS in Europe; MUFG in East Asia; Sirius International Holding in the Middle East; and Standard Bank in Africa. The venture intends to comply with the US GENIUS Act and EU MiCA, but has not disclosed the company name, token name, blockchain networks, reserve custodian, governance structure or redemption terms.