21-bank consortium including Bank of America, Citi and Goldman plans USD stablecoin for 2027

A consortium of 21 major financial institutions, including Bank of America, Citi, and Goldman Sachs, has committed to create a new company in the second half of 2026 to support stablecoin issuance, with a USD-denominated stablecoin planned for the first half of 2027 and an eventual expansion to additional G7 currencies, with the euro identified as a priority ^{[1] [2] [3]}.

Reporting describes the initial product focus as a US dollar stablecoin intended for payments and digital asset settlement, with a euro token prioritized for expansion after the initial launch ^{[2] [3]}.

One report states the planned stablecoin will target wholesale, institutional, and retail use cases, including cross-border payments and digital asset settlement, and expects compliance with the U.S. GENIUS framework ^[1].

Crypto Briefing characterized the consortium’s planned first-half-of-2027 launch as potentially reshaping global finance by improving cross-border transactions and digital asset settlements, describing this as an interpretation rather than a stated operational outcome ^[4].