21 banks will issue stablecoins themselves. It’s not launching tomorrow—it’s in the first half of 2027.
Citigroup, Goldman Sachs, Bank of America, UBS, and Mitsubishi UFJ are all on the list. The official explanation is that they will first set up companies in the second half of this year, issue in USD first, then prioritize issuing in euros, claiming they want to align with the U.S. GENIUS Act and the EU’s MiCA, and they also plan to deploy a public chain.
The number of banks involved has grown from 10 in October 2025 to 21 today. Wall Street itself has said it looks more like a defensive move—afraid that stablecoins will take over cross-border payments and deposits.
Right now, the entire stablecoin market is about 【$301 billion】. $USDT is roughly $183.3 billion, accounting for about 60%; $USDC is about $73.3 billion, or a little over 20%. Circle’s share price fell about 6% that day. Reuters casually noted: for stablecoins issued by banks themselves, the market currently shows little sign of real demand. For Société Générale’s dollar stablecoin, circulation is only about $12.5 million.
So I don’t really see this as a near-term bearish shock to the market. The real things to watch are twofold: whether banks will keep liquidity locked inside their own compliant channels; and whether $USDT, which retail users typically use, will gradually be pushed down into the layer of “non-bank customers.”
2027 is still far away—far enough for existing issuers to lock in their shares again. Do you think this time banks are genuinely trying to capture market share, or are they just taking a license position for now?
Not investment advice
#Bank Stablecoin
Citigroup, Goldman Sachs, Bank of America, UBS, and Mitsubishi UFJ are all on the list. The official explanation is that they will first set up companies in the second half of this year, issue in USD first, then prioritize issuing in euros, claiming they want to align with the U.S. GENIUS Act and the EU’s MiCA, and they also plan to deploy a public chain.
The number of banks involved has grown from 10 in October 2025 to 21 today. Wall Street itself has said it looks more like a defensive move—afraid that stablecoins will take over cross-border payments and deposits.
Right now, the entire stablecoin market is about 【$301 billion】. $USDT is roughly $183.3 billion, accounting for about 60%; $USDC is about $73.3 billion, or a little over 20%. Circle’s share price fell about 6% that day. Reuters casually noted: for stablecoins issued by banks themselves, the market currently shows little sign of real demand. For Société Générale’s dollar stablecoin, circulation is only about $12.5 million.
So I don’t really see this as a near-term bearish shock to the market. The real things to watch are twofold: whether banks will keep liquidity locked inside their own compliant channels; and whether $USDT, which retail users typically use, will gradually be pushed down into the layer of “non-bank customers.”
2027 is still far away—far enough for existing issuers to lock in their shares again. Do you think this time banks are genuinely trying to capture market share, or are they just taking a license position for now?
Not investment advice
#Bank Stablecoin