Global Banks Unite to Build G7-Pegged Stablecoin Framework
- Ten global banks form a consortium to design G7-pegged stablecoins for cross-border payments.
- The project aims to make global settlements faster, cheaper, and fully compliant.
- The move challenges Tether’s control of the $310 billion stablecoin market.
A consortium of major global banks has announced plans to collaborate on a blockchain-based stablecoin project pegged to major G7 currencies.
The initiative, still in its early phase, involves Bank of America, Goldman Sachs, Deutsche Bank, BNP Paribas, Santander, Barclays, TD Bank, MUFG, UBS, and Citi. The group aims to create a digital asset system that blends traditional finance stability with blockchain’s efficiency and transparency.
Aim to Modernize Cross-Border Payments
According to Reuters report, the banks intend to explore stablecoins backed 1:1 by fiat currencies such as the US dollar, euro, and ye…
Read The Full Article Global Banks Unite to Build G7-Pegged Stablecoin Framework On Coin Edition.
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Global Banks Unite to Build G7-Pegged Stablecoin Framework
- Ten global banks form a consortium to design G7-pegged stablecoins for cross-border payments.
- The project aims to make global settlements faster, cheaper, and fully compliant.
- The move challenges Tether’s control of the $310 billion stablecoin market.
A consortium of major global banks has announced plans to collaborate on a blockchain-based stablecoin project pegged to major G7 currencies.
The initiative, still in its early phase, involves Bank of America, Goldman Sachs, Deutsche Bank, BNP Paribas, Santander, Barclays, TD Bank, MUFG, UBS, and Citi. The group aims to create a digital asset system that blends traditional finance stability with blockchain’s efficiency and transparency.
Aim to Modernize Cross-Border Payments
According to Reuters report, the banks intend to explore stablecoins backed 1:1 by fiat currencies such as the US dollar, euro, and ye…
Read The Full Article Global Banks Unite to Build G7-Pegged Stablecoin Framework On Coin Edition.
Read More
Hong Kong Stablecoin Law Becomes China’s Crypto Policy Sandbox