Tether USDt

USDC

<h2 id="stablecoin-institutional-crypto-news">Stablecoin &amp; Institutional Crypto News</h2><p>Twenty-one financial institutions, including Bank of America, Citi, Goldman Sachs, Deutsche Bank, UBS, Santander, Wells Fargo, MUFG Bank, Fidelity Investments, and Standard Bank, announced on Sept. 1 that they plan to form a company to issue stablecoins for payments and digital asset settlement.</p><p>The company has not yet been named and is <a href="https://www.prnewswire.com/news-releases/group-of-leading-international-financial-institutions-to-establish-stablecoin-enterprise-302866318.html" rel="noopener noreferrer nofollow">expected </a>to be established in the second half of 2026, subject to closing conditions.</p><p>The group's first product will be a US dollar-denominated <a href="https://coinmarketcap.com/academy/glossary/stablecoin" rel="noopener noreferrer">stablecoin</a>, which it plans to bring to market in the first half of 2027. It has identified a euro-denominated token as its next priority, with plans to eventually expand into stablecoins tied to other Group of Seven (G7) currencies. The consortium said its products will target wholesale, institutional, and retail use cases, including cross-border payments and digital asset settlement.</p><h2 id="from-10-banks-to-21-across-5-regions">From 10 Banks to 21 Across 5 Regions</h2><p>The initiative grew from a smaller project announced in October 2025, when 10 banks said they were exploring a reserve-backed digital payment <a href="https://coinmarketcap.com/academy/glossary/asset" rel="noopener noreferrer">asset</a> available on public blockchains. The group has since more than doubled, bringing together institutions across North America, Europe, East Asia, the Middle East and Africa. The consortium said it intends to comply with the US GENIUS Act and the European Union's Markets in Crypto-Assets Regulation (MiCA), where applicable.</p><p>The announcement lands in a stablecoin market that has grown considerably. Total stablecoin market capitalization rose from around $200 billion at the start of 2025 to approximately $303 billion as of Sept. 1, 2026.<a href="https://coinmarketcap.com/currencies/tether/" rel="noopener noreferrer"></a>Tether (<a href="https://coinmarketcap.com/currencies/tether/" rel="noopener noreferrer">USDT</a>) accounts for about 60% of that total. USD Coin (<a href="https://coinmarketcap.com/currencies/usd-coin/" rel="noopener noreferrer">USDC</a>), issued by Circle, holds more than 20%. Circle's stock fell roughly 6% on Sept. 1, underperforming most crypto-linked equities on the day of the announcement.</p><p><strong>Related Article:<a href="https://coinmarketcap.com/academy/article/what-is-a-stablecoin" rel="noopener noreferrer"></a><a href="https://coinmarketcap.com/academy/article/what-are-stablechains-stablecoin-issuers-building-blockchains" rel="noopener noreferrer">What Are Stablechains? Why Stablecoin Issuers Are Building Blockchains</a></strong></p><h2 id="institutional-stablecoin-activity-has-been-building">Institutional Stablecoin Activity Has Been Building</h2><p>Institutional interest in stablecoins was already visible in early 2025. A Fireblocks survey of 295 executives found that 90% were using or planning to use stablecoins at that time. Several large institutions have since moved from planning to production. Societe Generale's crypto subsidiary has issued both euro- and dollar-denominated stablecoins. Fidelity launched its own US dollar-pegged FIDD stablecoin earlier this year. Standard Chartered backed a Hong Kong dollar stablecoin venture last month.</p><p>Singapore is also revisiting its approach to stablecoins. The country announced on Sept. 1 that it is considering allowing jointly issued cross-border stablecoins into its regulatory regime, walking back an earlier decision to limit the framework to domestically issued tokens. The regulatory momentum across multiple jurisdictions points to a shift in how governments are approaching digital dollars, with the new bank consortium positioning itself to operate within those emerging frameworks from the outset.</p>

21 Major Banks Plan Stablecoin Venture With Dollar Token Launch in 2027

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