Stablecoin Venture Gets $270M Backing From Goldman and Citi
The funding will cover five years of operating costs as the group plans a dollar stablecoin and later tokens tied to other G7 currencies.
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Stablecoin venture gets $270M backing from Goldman and Citi
Goldman Sachs, Citi, Santander, and Deutsche Bank have joined financial firms committing around $270 million to a planned U.S. dollar stablecoin venture, according to Bloomberg’s Nov. 10 report. Bloomberg reported, citing people familiar with the matter, that the funding would…
Goldman, Citi and Global Banks Commit $270 Million to Challenge Crypto’s Stablecoin Giants
The funding, backing a U.S.-incorporated issuer codenamed “Project Faro,” covers five years of operations as traditional lenders move to challenge crypto-native giants Tether and Circle.
Stablecoin venture draws $270M backing from Goldman, Citi and peers
Goldman Sachs, Citi, Santander, and Deutsche Bank have joined financial firms committing around $270 million to a planned U.S. dollar stablecoin venture, according to Bloomberg’s Nov. 10 report. Bloomberg reported, citing people familiar with the matter, that the funding would…
Goldman Sachs, Citigroup and other banks committed $270 million to Project Faro, a joint venture of stablecoin, according to Bloomberg
According to ChainCatcher, citing Bloomberg, sources familiar with the matter revealed that financial institutions such as Goldman Sachs, Citigroup, Santander Bank, and Deutsche Bank have committed approximately $270 million to a joint stablecoin project.
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