Story perspectives

Banks, Asset Managers Plan U.S. Dollar Stablecoin Launch 2027

9/2/2026

Summary

Story summary

U.S. banks and asset managers announced a joint venture to launch a U.S. dollar-stablecoin.
The token is slated for launch in early 2027.
Participants include Bank of America, Goldman Sachs, Citi, Deutsche Bank, MUFG and others.
A new company will be created by the second half of 2026 to issue the token.
The stablecoin will meet U.S. GENIUS Act requirements and, where relevant, EU MiCA rules.

History

Historical Context

In June 2019, JPMorgan Chase unveiled JPM Coin, a private U.S. dollar-stablecoin designed for institutional payments, marking the first major bank-issued digital token. The pilot processed $10 billion in transactions across 30 corporate clients by 2021, demonstrating scalability and prompting the Federal Reserve’s 2022 digital-currency task force. Today's consortium of Bank of America, Goldman Sachs, Citi, MUFG and others echoes that experiment, targeting a 2027 U.S. dollar stablecoin under the GENIUS Act. If successful, the token could cement banks’ dominance in digital payments, prompting broader regulatory frameworks and potentially reshaping global fiat-stablecoin markets.

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Story summary

U.S. banks and asset managers announced a joint venture to launch a U.S. dollar-stablecoin.
The token is slated for launch in early 2027.
Participants include Bank of America, Goldman Sachs, Citi, Deutsche Bank, MUFG and others.
A new company will be created by the second half of 2026 to issue the token.
The stablecoin will meet U.S. GENIUS Act requirements and, where relevant, EU MiCA rules.

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