21 global financial institutions plan joint U.S. dollar stablecoin

JUST IN: A group of 21 global financial institutions, including Bank of America, Citi, Goldman Sachs, Deutsche Bank and UBS, reportedly plans to launch a joint U.S. dollar stablecoin in the first half of 2027.
The initiative would represent one of the largest coordinated moves by traditional financial institutions into blockchain-based money and settlement infrastructure.
A bank-backed stablecoin at this scale could accelerate institutional adoption of tokenized payments while increasing competition with existing crypto-native stablecoin issuers.