Banks are accelerating plans to problem stablecoins for instantaneous, round the clock settlement, with many ditching in-house builds in favour of trade consortia to cut back fragmentation and broaden distribution within the fast-growing market.
In October 2025, a consortium of 9 financial institution heavyweights comprising Goldman Sachs, Financial institution of America, BNP Paribas, Citigroup, Deutsche Financial institution, MUFG Financial institution, Santander, TD Financial institution and UBS confirmed plans to develop stablecoins targeted on G7 currencies.
A European effort
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