The initiative aims to create a bank-grade digital money framework supported by international compliance and governance standards.

A group of 21 leading financial institutions have agreed to establish a new company in the second half of 2026 to support the issuance of a bank-grade stablecoin solution. The participating institutions span multiple regions The initiative will initially focus on a US dollar-denominated offering before expanding to G7 currencies, with a euro product identified as the next priority. The group, whose name will be announced in due course, said that the effort aims to combine bank-level complia