PolicyDecryptabout 1 hour ago
21 Banks Fund Project Faro Stablecoin
3 min read
A 21-bank consortium led by Goldman Sachs, Citigroup, Santander, and Deutsche Bank commits roughly $270 million to Project Faro. This venture targets a 2027 launch to challenge Tether and Circle, which control about 85% of the roughly $290 billion market. The GENIUS Act signed in 2025 provides the regulatory framework for this move.
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