21 Global Financial Institutions Plan Stablecoin Firm, to Launch USD Stablecoin in H1 2027
OdailyOdaily News: 21 international financial institutions have announced plans to establish a new company in the second half of 2026 to promote the issuance of stablecoins, with the specific name to be announced later. The company will initially focus on USD-denominated stablecoins, with future plans to expand to more G7 currencies, prioritizing the euro stablecoin. Participating institutions include Bank of America, Citigroup, Morgan Stanley, Goldman Sachs, Deutsche Bank, UBS, Wells Fargo, BBVA, Santander, MUFG Bank, and others. The stablecoin initiative targets wholesale, institutional, and retail markets, and will be applied in scenarios such as cross-border payments and digital asset settlement. The group stated that the stablecoin solution will combine bank-grade compliance, governance, and institutional risk management capabilities, and plans to comply with relevant regulatory requirements such as the U.S. GENIUS Act and the EU's MiCA, with the goal of launching the stablecoin product in the first half of 2027.
This content is for informational and educational purposes only and does not constitute investment advice related to BTCC. BTCC makes every effort but cannot guarantee the truthfulness, accuracy, or originality of the content above.