21 Global Financial Institutions to Form Stablecoin Venture, MUFG Sole Japanese Participant

A consortium of 21 global financial institutions announced on September 1 that they will establish a new company in late 2026 to issue a USD-pegged stablecoin. The group includes major banks such as Goldman Sachs, Citi, Bank of America, Deutsche Bank, and UBS, with plans to launch services in early 2027. Mitsubishi UFJ Financial Group (MUFG) is the only Japanese institution participating in the initiative.