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Goldman Sachs is among 21 global financial institutions backing a new company that plans to launch a U.S. dollar-denominated stablecoin in the first half of 2027. The consortium also includes Bank of America, Citi, Wells Fargo, Deutsche Bank, UBS, Fidelity Investments and WisdomTree.
The new company is expected to be established in the second half of 2026, subject to closing conditions, and has not yet been named. The 2027 timeline is a target rather than a confirmed launch date, with the group still developing the structure behind the planned stablecoin.
Goldman Joins Expanded Stablecoin Consortium
The project follows an October 2025 initiative in which 10 banks began exploring a 1:1 reserve-backed form of digital money available on public blockchains. The group has since expanded to 21 institutions across North America, Europe, East Asia, the Middle East and Africa. The consortium said:
“The group aims for its stablecoin solution to go to market in the first half of 2027.”
Goldman Sachs is therefore one participant in the joint venture rather than the sole issuer of the planned token. Details including the issuing entity, reserve structure and blockchain networks have not yet been announced.
Stablecoin Targets Payments and Digital Asset Settlement
The group identified cross-border payments and digital-asset settlement among the potential uses for the dollar-denominated stablecoin. It expects the product to serve wholesale and institutional markets, with potential retail applications depending on the use case and jurisdiction.
The venture also plans to consider stablecoins denominated in other Group of Seven currencies after the initial dollar product. A euro-denominated offering is among the options identified for later expansion.
Venture Would Enter Established Stablecoin Market
The planned venture would enter a stablecoin market currently dominated by Tether and Circle by circulating supply. Tether has more than $180 billion of USDT in circulation, while bank-issued stablecoins have so far attracted considerably smaller adoption.
The consortium has not yet disclosed the name of its new company or the networks on which the token would operate. Those details, along with completion of the planned company formation, remain key steps before the targeted first-half 2027 launch.
