US EditionGoldman Sachs, Citi, Bank Of America To Walk Through The Door Opened By Trump-Backed GENIUS Act - Goldman Sachs Group (NYSE:GS)
- On Friday, a group of global banks including Goldman Sachs Group Inc., Bank of America Corp., and Deutsche Bank AG announced a project to explore a 1:1 reserve-backed digital currency pegged to G7 currencies.
- The GENIUS Act clarified U.S. stablecoin rules, banks say, enabling federally chartered institutions to issue and hold blockchain-backed currencies amid client and regulatory demand.
- They formed a new company in the Netherlands and plan to issue the token in the second half of 2026, with individual banks offering stablecoin wallet and custody services to support interoperable digital assets.
- Market data show stablecoins could challenge Tether and Circle as analysts warn bank-issued coins may draw $1 trillion from emerging markets and JPMorgan projects $1.4 trillion in dollar demand by 2027.
- Longer-Term, tokenized G7 currencies could challenge the dominance of SWIFT and Visa, potentially reshaping the $100 trillion payments market as banks embrace blockchain innovations.
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34 Articles
Goldman, BofA, Citi, other global banks team up to explore issuing stablecoin (GS:NYSE)
A number of major global banks have formed a consortium to explore issuing "a 1:1 reserve-backed form of digital money that provides a stable payment asset available on public blockchains," according to a press release on Friday.
10 Banks Want to Tokenize the $500 Trillion US Capital Markets
In a seismic shift for the future of finance, ten of the world’s largest banks—including Bank of America, Citi, Deutsche Bank, Goldman Sachs, UBS, Banco Santander, Barclays, BNP Paribas, MUFG Bank, and TD Bank Group—have united to explore the issuance of a regulated stablecoin pegged to G7 currencies. Announced on October 10, 2025, this collaborative initiative signals a bold entry by traditional finance into the digital asset arena, aiming to s…
Goldman Sachs, Citi, Bank Of America To Walk Through The Door Opened By Trump-Backed GENIUS Act - Goldman Sachs Group (NYSE:GS)
A consortium of major banks including Goldman Sachs Group Inc. (NYSE:GS), Citigroup Inc. (NYSE:C), UBS Group AG (NYSE:UBS), Deutsche Bank AG (NYSE:DB), and Bank of America Corp. (NYSE:BAC) announced plans to explore blockchain-based assets pegged to G7 currencies, according to Reuters. Wall Street Backs Blockchain Assets The joint initiative aims to develop tokenized settlement systems backed by the U.S. dollar, euro, and other G7 currencies. Th…
Goldman, Santander Among Banks Exploring Blockchain-Based Money
A group of international banks including Goldman Sachs Group Inc., Deutsche Bank AG, Bank of America Corp. and Banco Santander, have joined forces to explore the issuance of “digital money” on public blockchains, marking the latest push by large financial institutions to examine possible uses for the technology underpinning cryptocurrencies for payments.
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NewsBTCGlobal Banking Powerhouses Plan Issuing New Stablecoins Tied To G7 Currencies
A consortium of major banks, including Bank of America, Citi, Deutsche Bank, Goldman Sachs, and UBS, announced on Friday that they will collaborate to explore the development of stablecoins pegged to G7 currencies. A New Era For Crypto In Mainstream Finance The renewed interest in stablecoins comes in the wake of US President Donald Trump’s...
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