Twenty-one financial institutions, including Goldman Sachs, Bank of America, Citi, Fidelity Investments and Wells Fargo, announced on September 1 that they plan to establish a new company in the second half of 2026 to support the issuance of a stablecoin solution. The immediate step is the formation of the venture, rather than the issuance of a token.
The group is targeting a market launch for an initial US dollar-denominated stablecoin in the first half of 2027, according to the announcement published by Wells Fargo.
21 institutions set second-half 2026 formation timeline
The participant roster spans North America, Europe, Asia, the Middle East and Africa. Alongside Goldman, Bank of America, Citi, Fidelity and Wells Fargo, it includes UBS, Deutsche Bank, Santander, BBVA and MUFG Bank.
The institutions said they would create a new company during the second half of 2026 to support issuance of the stablecoin solution. The announcement did not set out further operational details in the information provided.
Dollar token targets payments and digital-asset transactions
The venture’s first product is intended to be a USD-denominated stablecoin. Reuters reported that the proposed dollar-pegged cryptocurrency is aimed at payments and digital-asset transactions.
After the dollar offering, the group plans to expand to other G7 currencies, with particular emphasis on the euro. Its stated target for bringing the initial token to market is the first half of 2027.
Consortium grew from 10-bank exploration
The initiative developed from an October 2025 exploration involving 10 banks, Reuters, via Investing.com, reported.
Now expanded to 21 institutions, the group plans to establish the company in the second half of 2026, with the dollar stablecoin targeted for launch in the first half of 2027.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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