Goldman Sachs, Citi and 19 peers target joint USD stablecoin launch in 1H 2027

A consortium led by Goldman Sachs and Citigroup, alongside 19 other financial institutions, plans to issue a shared U.S. dollar stablecoin in the first half of 2027, with a euro-denominated version to follow. The group said it intends to set up a new company in the second half of 2026, subject to customary closing conditions. Participants include Bank of America, Wells Fargo, Deutsche Bank, UBS, Fidelity and WisdomTree. The initiative builds on an exploratory effort launched by 10 global banks in October 2025, though Barclays and BNP Paribas—both part of that earlier group—are not listed among the new members. The consortium said it is targeting compliance with the GENIUS Act and, where applicable, the EU’s MiCA framework.