Goldman Sachs, BofA and others plan to issue dollar stablecoin together in 2027

Despite earlier public opposition to private digital tokens, Goldman Sachs, Bank of America, Citi and a group of other banks have agreed to form a new company that will issue a dollar‑pegged stablecoin in 2027. The consortium represents a reversal of the banks’ former stance, signaling a coordinated entry into the crypto market. Their plan is to launch a regulated, U.S.‑backed digital asset through this joint venture.

Reuters confirmed the 2027 launch timeline and detailed the joint issuance plan. The Wall Street Journal emphasized the shift from resistance to participation, noting the banks’ changed attitude. CoinDesk outlined the roster of participating banks and asset managers, while Investopedia described the effort as a major banking push into the crypto sector.

Seeking Alpha listed roughly 18 additional firms joining the stablecoin company, underscoring the breadth of industry involvement. The project remains at the planning stage; coverage does not specify the token’s backing mechanisms, custody arrangements or regulatory approvals. While the 2027 target is set, the consortium has yet to disclose governance structures, leaving open how the stablecoin will be managed and supervised.