Twenty-one international financial institutions announced on September 1 plans to create a company in the second half of 2026 to support the issuance of a U.S. dollar-denominated stablecoin. The consortium is targeting a market launch in the first half of 2027, according to the group’s announcement published by Wells Fargo.
The initiative would bring several large banks and financial firms into a common stablecoin structure rather than leaving issuance to separate experiments. Its proposed token is intended for cross-border payments and digital-asset settlement in wholesale, institutional and retail markets.
Consortium to form stablecoin company in late 2026
The planned company is due to be established during the second half of 2026 and would support the stablecoin’s issuance; Wells Fargo said participants include Bank of America, Citi, Goldman Sachs, Deutsche Bank, UBS, Wells Fargo, Fidelity Investments, Santander, BBVA and MUFG Bank.
Dollar token targeted for first-half 2027
The consortium said it aims to bring the initial dollar token to market in the first half of 2027. The stated use cases cover cross-border payments and settlement of digital assets, across customer segments ranging from wholesale markets to retail users.
That timetable makes the establishment of the issuance-supporting company the next announced milestone. The group has not stated a more specific launch date.
Euro expansion and regulatory frameworks
After the dollar-denominated offering, the initiative plans to expand into additional G7 currencies, with a euro stablecoin identified as the priority, Reuters reported.
The venture also intends to comply with the U.S. GENIUS Act and the European Union’s Markets in Crypto-Assets regulation, or MiCA, where those frameworks apply. The announcement frames the planned dollar token as the first stage of a broader multi-currency stablecoin effort.
