21 global banks to launch joint stablecoin company, first issuance in 2027

September 2, 2026 at 10:21 AM1 min

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Twenty-one global financial institutions announced plans to form a joint company to support stablecoin issuance, with the first product expected in the first half of 2027. The company will initially focus on a US dollar-pegged stablecoin, with euro and other G7 currency-pegged stablecoins targeted in the long term. The initiative is subject to regulatory approvals, and the company's name will be announced later.

Key Facts

The joint company will initially focus on issuing a US dollar-pegged stablecoin, with euro and other G7 currency-pegged stablecoins targeted in the long term.
The stablecoin solution is planned to be launched in the first half of 2027.
The 21 participating institutions include Bank of America, Citi, Goldman Sachs, Deutsche Bank, UBS, MUFG Bank, and Standard Bank.
The company's establishment is subject to regulatory approvals, and its name will be announced at a later date.

Participating Institutions

The 21 financial institutions span North America, Europe, East Asia, the Middle East, and Africa. North American participants include Bank of America, Capital One, Citi, Fidelity Investments, Goldman Sachs, PNC Financial Services, Scotiabank, TD Bank Group, Wells Fargo, and WisdomTree. European participants include Banco Santander, BBVA, Commerzbank, Credit Agricole, Deutsche Bank, Lloyds Banking Group, Coöperatieve Rabobank U.A., and UBS. MUFG Bank represents East Asia, Sirius International Holding represents the Middle East, and Standard Bank represents Africa.

Stablecoin Product Plans

The company will initially focus on a US dollar-pegged stablecoin, with long-term plans for euro and other G7 currency-pegged stablecoins. The stablecoin solution is planned to be launched in the first half of 2027. The product is intended for use in wholesale, institutional, and retail markets, including cross-border payments and digital asset settlements. The initiative aims to combine bank-level compliance, strong governance, distribution, and institutional risk management.