Goldman Sachs, BofA and others plan to issue dollar stablecoin together in 2027

Live updates

1. 14d ago

   Twenty-one banks to launch joint US dollar stablecoin by 2027

   Goldman Sachs, Bank of America, Citi, and 18 other financial institutions are forming a new company to issue a US dollar-backed stablecoin. The venture targets a launch in the first half of 2027, focusing on commercial cross-border payments for institutional and retail users. This move signals a shift in traditional finance toward blockchain settlement. Market reaction was immediate, with Circle stock dropping 6% as the new consortium enters the 303 billion dollar stablecoin market.

   Why it matters

   Banks previously opposed stablecoins but are now developing their own regulated digital tokens. This initiative follows the GENIUS Act. The consortium plans to eventually expand the project to include other G7 currencies such as the euro.

   What is confirmed

   • Twenty-one banks and financial firms are establishing a new company to issue a dollar-denominated stablecoin.
   • The consortium includes Goldman Sachs, Bank of America, and Citi.
   • The stablecoin is planned for launch in the first half of 2027.
   • The token will focus on commercial cross-border payments.
   • Circle shares decreased by 6% following the announcement.
   • The stablecoin market is valued at 303 billion dollars.

   Still unconfirmed

   • The consortium plans to expand into other G7 currencies including the euro.

   What to watch next

   • Official naming and registration of the new stablecoin company
   • Confirmation of the full list of 21 participating banks
   • Updates on the regulatory approval process for the digital token
   Sources used for this update (19)

   1. Reuters — Goldman Sachs, BofA and others plan to issue dollar stablecoin together in 2027
   2. WSJ — Exclusive | Banks Fought Against Stablecoins. Now They Are Considering Launching Their Own.
   3. CoinDesk — Citi, Goldman, other global banks and asset managers team up on stablecoin venture
   4. PYMNTS.com — How 21 Banks Changed the Conversation Around Stablecoins and Tokenized Deposits
   5. Seeking Alpha — BofA, Citi, Goldman Sachs, 18 others to create new stablecoin company (GS:NYSE)
   6. TradingView — BBVA Among 21 Financial Institutions Working On Stablecoin Company For H2
   7. forkast.news — 21 Major Banks Are Building a Stablecoin. The GENIUS Act Is Why.
   8. FTI Consulting — The Hidden Risks For Banks Building Hybrid Payment Flows
   9. blockonomi.com — 21 Major Banks Including Goldman Sachs and Citi Plan 2027 Stablecoin Launch
   10. dailyhodl.com — Bank of America, Wells Fargo, Citi and Goldman Join 21-Firm Plan to Launch Stablecoin
   11. finance.yahoo.com — New stablecoin venture backed by 21 banks eyes 2027 debut
   12. startupfortune.com — Goldman Sachs, Citi and 19 Other Banks Plan a Dollar Stablecoin by 2027
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