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21 global financial firms to issue stablecoin; former Ripple executive calls it a familiar scene

A former Ripple executive, Emi Yoshikawa (에미 요시카와), described plans by a 21-bank consortium led by Goldman Sachs and MUFG Bank to launch a dollar stablecoin as a familiar move by banks. She said on X after the announcement that it felt like deja vu. The project draws attention for favoring tighter in-house control over outside blockchain networks. MUFG is also pushing a yen stablecoin payment launch in Japan by March 2027.

Crypto

BoA, Deutsche Bank, UBS and others form stablecoin alliance of 21 global financial institutions

Twenty-one major global financial institutions have begun work to jointly establish a stablecoin issuer, with a plan to launch a U.S. dollar-based stablecoin in the first half of 2027. Participants include Bank of America, Goldman Sachs, Citi, Deutsche Bank, UBS, Santander, MUFG and Fidelity Investments. The group plans to focus first on a dollar stablecoin and later expand to products based on other G7 currencies, with a euro stablecoin listed next.

Crypto

World Liberty stablecoin USD1 issued natively on Canton, expanding institutional payments infrastructure

World Liberty Financial (WLFI), a cryptocurrency firm involving the Trump family, has issued its stablecoin USD1 in native form on the Canton Network. The move is intended to let institutions handling tokenised real-world assets on Canton use USD1 for payments and fund transfers. World Liberty Financial said it can reduce settlement delays and capital being tied up. A Digital Asset executive said native stablecoins could add flexibility for institutional liquidity and settlement.