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Group of leading international FIs to establish stablecoin enterprise

Tuesday, September 01, 2026 — 15:26:41 (UTC)

Group of leading international financial institutions to establish stablecoin enterprise

LONDON and NEW YORK, Sept. 1, 2026 /PRNewswire/ -- Twenty-one leading international financial institutions have today announced that they have committed to establish a new company in H2 2026, subject to closing conditions, to support the issuance of a stablecoin solution. The new company, whose name will be announced in due course, intends to operate globally, with its initial focus on a USD-denominated stablecoin offering and a longer-term ambition of expanding issuance into stablecoins denominated in additional G7 currencies, with a EUR offering as a priority.

The initiative will draw on the expertise of the participant institutions to offer a safe, robust and trusted solution that combines bank-grade compliance, strong governance, distribution and institutional risk management. The product will be utilised in a variety of use cases covering wholesale, institutional and retail markets where client benefits can be achieved by utilising a trusted form of digital money, including cross-border payments and digital asset settlements.

The group aims for its stablecoin solution to go to market in the first half of 2027.

This follows the announcement in October 2025 that an initial group of ten banks was exploring the issuance of a 1:1 reserve-backed form of digital money that provides a stable payment asset available on public blockchains.

The group now comprises twenty-one leading financial institutions headquartered across major geographies, namely:

North America: Bank of America, Capital One, Citi, Fidelity Investments, Goldman Sachs, PNC Financial Services, Scotiabank, TD Bank Group, Wells Fargo, WisdomTree

Europe: Banco Santander, BBVA, Commerzbank, Crédit Agricole, Deutsche Bank, Lloyds Banking Group, Coöperatieve Rabobank U.A., UBS

East Asia: MUFG Bank

Middle East: Sirius International Holding

Africa: Standard Bank

The initiative intends to be GENIUS Act and MiCA-compliant, as applicable. The group will continue to keep appropriate parties updated as the initiative progresses.

Cautionary Statement About Forward-Looking Statements

This news release contains forward-looking statements about our future performance and business objectives. Because forward-looking statements are based on our current expectations and assumptions regarding the future, they are subject to inherent risks and uncertainties. Do not unduly rely on forward-looking statements as actual results could differ materially from expectations. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date.

Disclaimer: BCG and Brunswick act solely as advisers and have no authority to bind the consortium or any participating member.

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Source: Company press release.

Categories: Announcement