A consortium of 21 banks, including Bank of America, Citigroup, and Goldman Sachs, plans to establish a company and launch its stablecoin venture in H1 2027 (Gina Heeb/Wall Street Journal)

A consortium of 21 banks, including Bank of America, Citigroup, and Goldman Sachs, is forming a new company to issue a stablecoin. The project aims to launch the stablecoin in the first half of 2027, targeting institutional adoption and regulatory compliance. The consortium will coordinate token issuance, liquidity, and governance across its members.