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Goldman Sachs, Citigroup and 20 Other Financial Institutions Team Up to Develop Stablecoin, Plan $270 Million Investment to Challenge Tether and Circle
8 hour ago /
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Author：小编
On November 11, sources familiar with the matter said that global financial institutions including Goldman Sachs, Citigroup, Santander and Deutsche Bank have committed approximately $270 million to a joint stablecoin initiative codenamed "Project Faro" to fund operations during the first five years after launch. The project plans to establish a stablecoin issuing entity in the United States and to officially roll out its products in the first half of 2027, with the aim of combining the liquidity, payment infrastructure and customer base of traditional financial institutions to compete with incumbent stablecoin issuers such as Tether and Circle.
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