Goldman Sachs, Citigroup, Banco Santander and Deutsche Bank have reportedly committed $270 million to a proposed US stablecoin venture involving 21 financial institutions. Bloomberg reported the funding on November 10, 2026, citing people familiar with private discussions. The institutions have not disclosed their individual commitments.
The group aims to launch a dollar-backed token in the first half of 2027, initially for cross-border payments and digital asset settlements. The proposed company has not announced regulatory approval, a final token name or the blockchain it would use.
