Goldman Sachs, Bank of America, and 19 other banks will jointly issue a dollar stablecoin.

A group of 21 financial institutions, including Goldman Sachs, Bank of America, Citi, and Deutsche Bank, will establish a separate company this year to issue a stablecoin pegged to the U.S. dollar. The launch is scheduled for the first half of 2027. Next in line is a euro-denominated version, followed by stablecoins in other G7 currencies.

The project was initially announced in October 2025, when only 10 banks were involved. The group will face competition from a consortium of 37 organizations that has created the company Qivalis and promises to launch a euro-denominated stablecoin before the end of this year. Some banks, such as Spain's BBVA, are participating in both projects simultaneously.