A post by @WatcherGuru on X.
JUST IN: Goldman Sachs, Citigroup, Santander and Deutsche Bank commit $270 million to launch joint crypto stablecoin.
@WatcherGuru on X
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Goldman Sachs, Citigroup, Santander and Deutsche Bank have committed $270 million to launch a joint crypto stablecoin. The four banking giants are pooling capital to back the new token, marking one of the largest coordinated stablecoin efforts by traditional financial institutions to date. The move matters because it signals major banks intend to compete directly in the stablecoin market rather than cede the space to crypto-native issuers. Details on the token's design, reserve backing, launch timeline and target chains have yet to be disclosed. Watch for further announcements on the stablecoin's structure, regulatory treatment and whether other banks join the consortium.
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Named in this story
Goldman Sachs (GS), Deutsche Bank, Santander, Citigroup (C), crypto stablecoin
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