The bank-led consortium wants a U.S. dollar token live by the first half of 2027, with a euro version queued up next.
- A consortium of 21 major financial institutions, including Goldman Sachs, Bank of America, and Citi, plans to launch a U.S. dollar stablecoin by the first half of 2027.
- This initiative represents a private liability stablecoin, distinct from a Central Bank Digital Currency (CBDC), and aligns with U.S. policy favoring private stablecoin development.
- The stablecoin aims for use in wholesale, institutional, and retail markets, with cross-border payments and digital asset settlement as initial applications, followed by a euro-denominated version.
Topics: Asset types, Jurisdictions, Institutional adoption, Stablecoins digital cash, Established hubs, Banking depository pilots
Tags: #goldmansachs #bankofamerica #citi #stablecoin #usdollar #cbdc #privateliability #crossborderpayments #digitalassetsettlement #eurostablecoin
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