Top 10 Global Banks Consider Joint Issuance of G7 Currency-Linked Stablecoins

On the 10th, it was revealed through a statement by BNP Paribas that ten of the world's leading banks, including Bank of America, Goldman Sachs, and Citigroup, have commenced discussions to jointly explore the issuance of stablecoins pegged to G7 currencies such as the dollar and the pound. These digital currencies would be backed by a 1:1 reserve and offered on public blockchains. The banks involved include Banco Santander, Barclays, BNP Paribas, Citigroup, Deutsche Bank, Goldman Sachs, Mitsubishi UFJ Financial Group, TD Bank Group, UBS, and Bank of America. They aim to ensure regulatory compliance and proper risk management while progressing...