Goldman, Citi Among Banks Committing $270M to Fund Joint Stablecoin Issuer for Five Years

Goldman Sachs, Citigroup, Banco Santander, and Deutsche Bank have committed about $270 million to a joint stablecoin company, according to Bloomberg. The funding covers five years of operations for the new issuer. This marks a significant institutional push into stablecoins, potentially reshaping the digital payments landscape.