21 Banks Pool $270 Million to Build a Dollar Stablecoin
A group of 21 financial institutions, including Goldman Sachs, Citigroup, Santander and Deutsche Bank, has pooled about $270 million for Project Faro, a venture to issue a regulated U.S. dollar-pegged stablecoin. The target launch is the first half of 2027, as corporate stablecoin payment volume is growing quickly.
