According to Wu Blockchain, 21 international financial institutions, including Bank of America, Citi, Goldman Sachs, Deutsche Bank, Fidelity Investments, Wells Fargo, and MUFG, have jointly announced their commitment to establish a new company in the second half of 2026 to support the issuance of stablecoin products. The related arrangements are still subject to closing conditions. The new company will initially launch a USD-denominated stablecoin, aiming to enter the market in the first half of 2027. There are long-term plans to expand to other G7 currencies, with the euro being the priority. The stablecoin initiative will target wholesale, institutional, and retail markets, with application scenarios including cross-border payments and digital asset settlements. It also plans to comply with the U.S. GENIUS Act and the EU MiCA where applicable. This collaboration stems from an initial exploration by 10 banks in October 2025 to develop a 1:1 reserve-backed digital currency usable on public blockchains. The number of participating institutions has now grown to 21. https://(wublock123.com)/news/21-international-banks-form-stablecoin-firm-usd-stablecoin-2027-67611