00:00It's Benzinga, bringing Wall Street to Main Street.
00:0321 global financial institutions, including Bank of America, Goldman Sachs, and Citigroup,
00:09are forming a company to launch a regulated stablecoin, according to Benzinga.
00:13The venture will initially focus on a U.S. dollar-denominated stablecoin,
00:17followed by a euro-denominated offering and other G7 currencies.
00:21The company is expected to be formed in the second half of 2026,
00:25with the stablecoin scheduled to launch in the first half of 2027.
00:29The product will target wholesale, institutional, and retail markets
00:33for cross-border payments and digital asset settlements.
00:37The group has expanded from 10 banks announced in October 2025 to 21 institutions worldwide.
00:42The venture plans to comply with the Genius Act and the European Union's MICA framework, where applicable.
00:48For all things money, visit Benzinga.com.
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