Global banks to launch US dollar stablecoin in 2027
6.7 Stablecoins Twenty-one global banks will launch a US dollar stablecoin in 2027, focusing on regulatory compliance, digital payments, and expansion to other G7 currencies.
Twenty-one leading international financial institutions, including Bank of America, Citi, Goldman Sachs, Deutsche Bank, and UBS, have announced plans to form a joint venture in the second half of 2026. Their goal is to issue a US dollar-denominated stablecoin, with the official launch scheduled for the first half of 2027. The initiative will prioritize strict compliance with regulations such as the GENIUS Act in the US and MiCA in the EU. Originating from discussions among ten systemically important banks in 2025, the project aims to streamline wholesale, institutional, retail, and cross-border payments, as well as digital asset settlements. Following the US dollar launch, the consortium intends to expand to stablecoins in other G7 currencies, with the euro as the next focus. The stablecoin will be fully backed one-to-one by reserves and will leverage traditional banking infrastructure, positioning the consortium to compete with non-bank stablecoin issuers.
