CryptoCointelegraphabout 1 hour ago
Global Banks Fund Stablecoin Venture
3 min read
A consortium of 21 financial institutions commits $270 million to launch Project Faro, a US dollar stablecoin, in the first half of 2027. Backed by Goldman Sachs, Citigroup and BBVA, the group aims to compete with crypto-native issuers Tether and Circle, which control roughly 85% of the $290 billion market.
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