Joint Stablecoin Initiative by 21 Financial Institutions Worldwide

Twenty-one major financial institutions from around the globe have decided to establish a joint company to support stablecoin issuance, with reports indicating that the project initially aims to supply a US dollar-pegged stablecoin and is planned to launch in the first half of 2027.

Decision to Establish a Joint Company

In a joint statement issued by twenty-one global financial institutions, it was stated that a joint company would be established to support stablecoin issuance.

It was noted that the incorporation processes are subject to regulatory approvals and that the name of the new company will be announced to the public in the future.

Dollar and G7 Currencies Target

It was announced that the company, planned to operate globally, will initially focus on supplying a stablecoin pegged to the US dollar.

It was conveyed that in the long term, the project aims to issue stablecoins pegged to the euro and other G7 currencies.

Secure and Compliant Infrastructure

It was noted that the initiative will leverage the expertise of participating institutions to provide bank-grade compliance and strong governance.

It was stated that the aim is to offer a secure solution combining distribution and institutional risk management.

Market and Use Cases

It was reported that the product will be utilized in various areas such as cross-border payments and digital asset settlements.

It was stated that the solution is planned to be actively used in wholesale, institutional, and retail markets.

Launch Date

It was announced that the stablecoin solution to be produced by the group is planned to be launched in the first half of 2027.

Participating Financial Institutions

A total of 21 financial institutions from North America, Europe, East Asia, the Middle East, and Africa are participating in the project.

Participants include global giants such as Bank of America, Goldman Sachs, Deutsche Bank, UBS, and MUFG Bank.