21 Major Banks Join Forces to Launch a New Dollar Stablecoin
For years, the biggest names in banking treated stablecoins the way a cat treats a bathtub, with deep suspicion and a healthy distance. That era just ended. On September 1, 2026, a coalition of 21 global financial institutions, including Bank of America, Citi, Goldman Sachs, Wells Fargo, UBS, Deutsche Bank, Santander, and Fidelity Investments, confirmed they’re teaming up to build a company whose sole purpose is issuing a U.S. dollar-backed stablecoin. It’s not a whitepaper or a “we’re exploring