Goldman Sachs, Citi Among Firms Planning $270 Million Investment in US Dollar Stablecoin Venture

Summary

• Global financial firms including Goldman Sachs and Citigroup are expected to invest about $270 million over the next five years in a US-based dollar stablecoin joint venture.
• Bloomberg reported that Goldman Sachs, Citigroup, Santander and Deutsche Bank are among the financial institutions that have agreed to fund the US dollar stablecoin joint venture.
• The project is intended to launch a US-based joint stablecoin business, with multiple global financial institutions taking part in the fundraising effort.

Forecast Trend Report by Period

Global financial firms including Goldman Sachs Group Inc. and Citigroup Inc. are planning to invest about $270 million over the next five years in a US-based dollar stablecoin joint venture, Bloomberg reported on November 10.

Bloomberg said Goldman Sachs, Citigroup, Santander and Deutsche Bank are among the financial institutions that have agreed to back the US dollar stablecoin venture.

Their combined investment is reported to total about $270 million over the five-year period.

The project is intended to launch a US-based joint stablecoin business, with multiple global financial institutions participating in the fundraising effort.

JH Kim