21 Global Banks Plan Joint Dollar Stablecoin for 2027

A consortium of 21 major global financial institutions announced on September 1, 2026, that they will establish a new company in the second half of 2026 to issue a U.S. dollar-denominated stablecoin, with a target launch in the first half of 2027. The group, which includes Goldman Sachs, Bank of America, Citi, Deutsche Bank, and UBS, plans to create a regulated digital payment asset for use on public blockchains. The initiative, which has more than doubled in size since its initial announcement in October 2025 with 10 banks, aims to offer a bank-grade alternative in the rapidly growing stablecoin market.