Goldman, Citi, Santander, Deutsche Bank back $270M stablecoin venture
Four banking heavyweights — Goldman Sachs, Citi, Santander and Deutsche Bank — are reportedly among the firms funding a joint US-based dollar stablecoin venture. Bloomberg reports the commitment at around $270 million spread over five years, a striking bet by traditional finance on crypto's most bank-friendly product.
- 5 sources report it: X account @Cointelegraph, cryptobriefing.com, coindesk.com, thedefiant.io and 1 more.
- The source published it on Nov 10, 2026 at 4:55 PM.
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Goldman Sachs, Citi, Santander and Deutsche Bank are among the financial firms reportedly putting money behind a joint US-based dollar stablecoin venture, according to Bloomberg. The group is said to be committing roughly $270 million to fund the project.
The money would be spread across five years, per Bloomberg's report, making it a long-horizon bet rather than a quick pilot. The outlet did not name every firm involved beyond those four.
Stablecoins pegged to the dollar have become a crowded field, and the reported entry of four global banks signals how central the sector has become to mainstream finance. Bloomberg's report did not detail the venture's name, structure or launch timeline.
TopicsGoldman Sachs · Citi · Santander · Deutsche Bank · Bloomberg
Written by Paparazzi with AI. Not financial advice.
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