Goldman, Citi, Santander and Deutsche Bank are among firms putting about $270 million behind a joint dollar stablecoin, Bloomberg reports.
• About $270 million is committed to fund five years of operations, per Bloomberg's sources
• The issuer is expected to be a new US-incorporated company
• The 21-member group targets a launch in the first half of 2027
Why it matters: Wall Street is putting real money behind a bank-issued rival to existing dollar stablecoins.
Source: Bloomberg
Not financial advice.
💬 Can a bank-issued stablecoin win users from USDT and USDC?
#Stablecoins #Banking #Crypto
• About $270 million is committed to fund five years of operations, per Bloomberg's sources
• The issuer is expected to be a new US-incorporated company
• The 21-member group targets a launch in the first half of 2027
Why it matters: Wall Street is putting real money behind a bank-issued rival to existing dollar stablecoins.
Source: Bloomberg
Not financial advice.
💬 Can a bank-issued stablecoin win users from USDT and USDC?
#Stablecoins #Banking #Crypto