21 Banks Form Joint USD Stablecoin Company in 2026
Bank of America, Citi, Goldman Sachs and 18 others commit to a shared stablecoin issuer targeting 2027 launch under US and EU rules.
Twenty-one banks and financial firms have committed to create a new company in the second half of 2026 that will issue a USD stablecoin for wholesale, institutional, retail and cross-border payments.
The group includes Bank of America, Citi, Goldman Sachs, UBS and Deutsche Bank, along with 16 others spanning North America, Europe, East Asia, the Middle East and Africa.
Separate from JP Morgan effort
The dollar token is scheduled to reach market in the first half of 2027, with a euro version planned later. The product is intended to comply with the US GENIUS Act and EU MiCA rules.
The consortium grew from an initial ten banks that announced exploratory work in October 2025. The new company's name, reserve composition, technical architecture and distribution partners have not been disclosed.
The initiative is distinct from JP Morgan's separate internal review of a potential stablecoin. JP Morgan is not part of the 21-member group.