Crypto news report · source clearly identified
Major Banks Launch Stablecoin Initiative Focused on U.S. Dollar, Eye Euro Expansion
Citi, Goldman Sachs and other global banks and asset managers have formed a consortium to develop a U.S. dollar‑backed stablecoin for payments and digital‑asset settlement, with plans to add a euro‑denominated token later.
A coalition of leading financial institutions, including Citi and Goldman Sachs, announced a joint venture to create a stablecoin backed by the U.S. dollar. The initiative aims to provide a digital currency for both everyday payments and the settlement of digital assets.
Initial Focus on a U.S. Dollar Stablecoin
The consortium will prioritize the development of a dollar‑pegged token, targeting use cases such as retail payments, cross‑border transactions, and settlement of crypto‑based assets.
Future Expansion to a Euro Token
After establishing the U.S. dollar stablecoin, the group plans to introduce a euro‑denominated token, expanding its reach into European markets.
Source & attribution
News Source
- Publisher
- CoinDesk
- Original date
- September 1, 2026, 3:36 PM
- Original headline
- Citi, Goldman, other global banks and asset managers team up on stablecoin venture