21 banks including Goldman Sachs and Citi plan joint USD stablecoin for 2027 - CryptoRank

According to a report from CryptoRank, a group of 21 banks, including major institutions like Goldman Sachs and Citi, are reportedly planning to launch a joint US dollar-backed stablecoin by 2027. The project would mark a significant move by traditional finance into digital assets, potentially creating a regulated, bank-issued alternative to established stablecoins such as USDT and USDC.

If realized, a bank consortium stablecoin could primarily serve institutional settlement and cross-border payments, offering a bridge between legacy banking rails and blockchain networks. Because the issuers are regulated banks, the digital token would likely face stricter oversight, which may appeal to corporate treasurers seeking a compliant and transparent cash management tool. However, a multi-bank structure also introduces complexities around governance, liquidity sharing, and reconciliation across different institutions.

The market relevance lies in the potential shift in competitive dynamics. A credible bank-backed stablecoin could challenge current issuers’ dominance and may influence how central banks and regulators view private-sector money. For now, the report is unconfirmed, so the key watchpoints are formal announcements from participating banks, and any pilot programs or licensing applications that would signal momentum toward a 2027 launch.