Global Giants to Launch Joint Stablecoin

The world's largest banks, including Bank of America, Goldman Sachs, Deutsche Bank, UBS, and Fidelity, have formed a consortium of 21 companies to launch a joint stablecoin. The consortium aims to establish the company by the end of this year. The name of the company has not yet been announced, but the structure, which includes global giants such as BBVA, Credit Agricole, Commerzbank, and MUFG, will reveal its name by the end of the year. A dollar-backed stablecoin will be launched in the first half of 2027, followed by new stablecoins based on the currencies of G7 countries, starting with the euro. In June, more than 100 companies, including BlackRock, Mastercard, and Visa, announced their OpenUSD stablecoin projects. These projects are expected to compete with existing stablecoins like USDT and USDC.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.