Goldman Sachs, Citigroup, Banco Santander and Deutsche Bank are among banks committing about $270 million to a planned dollar-stablecoin venture, Bloomberg reported, citing people familiar with the matter. The money is intended to cover five years of operations, but the venture has not issued a token and still lacks a CEO and final name.
The group has targeted a launch in the first half of 2027. It says the token is being designed to comply with U.S. rules and, where applicable, EU rules.
