21 Global Banks Commit to a Joint Dollar Stablecoin for 2027

Twenty-one major global banks from five continents have committed to launching a jointly owned US dollar stablecoin in the first half of 2027, aiming to compete with dominant stablecoins like Tether and Circle USD Coin. This initiative aligns with new regulatory frameworks such as the GENIUS Act in the US and plans to eventually expand into other G7 currencies under European MiCA rules.

This Wire brief sits within Fusion42's coverage of Fintech.