Global Banks Goldman Sachs, Citigroup and More Commit $270,000,000 to Joint Stablecoin Venture

Global banks including Goldman Sachs and Citigroup have committed $270 million to a joint stablecoin venture. The consortium is backing a dollar-denominated stablecoin with funding to cover five years of operations at a new US-based issuer, signaling major institutional support for stablecoin adoption.