Goldman Sachs and Bank of America Join 21-Bank Stablecoin Initiative

Goldman Sachs and Bank of America are among 21 banks planning to launch a jointly developed stablecoin linked to the U.S. dollar, according to Decrypt. The consortium is targeting the first half of 2027 for the token’s launch. A euro-denominated version is planned afterward, although no further timing details were provided. The initiative places major banking institutions behind a shared digital token project focused initially on the U.S. dollar. The announcement adds to the number of financial-industry efforts involving stablecoins, a category of digital assets designed to maintain a link with a reference currency. The source did not provide details on the proposed token’s structure, issuance arrangements, or participating banks beyond Goldman Sachs and Bank of America. It also did not disclose the project’s expected size or how the stablecoin would be distributed. The U.S. dollar token remains in the planning stage, with the first-half 2027 target representing the consortium’s stated timetable.