Major Global Banks to Launch Dollar-Backed Stablecoin in H1 2027

Some of the world's biggest banks are joining forces to launch a dollar-backed stablecoin in the first half of 2027 as they seek to protect their turf from crypto and digital payments.
The initial focus will be commercial clients and cross-border payments, with plans to eventually expand into other G7 currencies. $JPM is reportedly still exploring its own separate stablecoin.
Banks involved include $BAC, $COF, $C, $GS, $PNC, $BNS, $TD, $WFC, $WT, $SAN, $BBVA, $DB, $LYG, $UBS, and $MUFG.