The world's 21 largest financial institutions have formally committed to jointly form a company to issue U.S. dollar stablecoins, with the goal of launching them in the first half of 2027. According to a joint statement released on Tuesday, September 1, Goldman Sachs, Bank of America and Citigroup are core members of the consortium. The company has not yet been named, and its establishment is planned to take place in the second half of 2026, but it still needs to meet final delivery conditions.
This distinction is crucial. The central bank's digital currency will be issued by the Federal Reserve itself and supported by the central bank's balance sheet. The institutions described the exact opposite: the token would be issued by a private company jointly owned by the banks and could be redeemed based on the bank's own book reserves, with no central bank obligations attached at any time.

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