21 international financial institutions will jointly establish a stablecoin company, planning to launch a US Dollar stablecoin in the first half of 2027.

BlockBeats News, September 1st. 21 international financial institutions announced plans to establish a new company in the second half of 2026 to promote the issuance of a stablecoin. The specific name will be announced later. The company will initially focus on a USD-denominated stablecoin and plans to expand to more G7 currencies in the future, with a priority on a Euro-denominated stablecoin.

Participating institutions include Bank of America, Citigroup, JPMorgan, Goldman Sachs, Deutsche Bank, UBS, Wells Fargo, BBVA, Santander, MUFG Bank, among others. The stablecoin project is intended for wholesale, institutional, and retail markets, and will be used in cross-border payments, digital asset settlements, and other scenarios.

The group stated that the stablecoin solution will incorporate banking-grade compliance, governance, and institutional risk management capabilities, and plans to comply with regulatory requirements such as the U.S. GENIUS Act and the EU's MiCA. The project aims to officially launch the stablecoin product in the first half of 2027.