Yahoo Finance | EN590 Commodities
EN590 Commodities GroupMarket Analysis 2026-09-03T01:28:45+00:00
The Goldman Sachs Group, Inc. (NYSE:GS) and Bank of America Corporation (NYSE:BAC) are among 21 financial institutions planning to launch a U.S. dollar-backed stablecoin in the first half of 2027. The banks are expected to create a joint company to issue the stablecoin, with plans to eventually expand into other G7 currencies, including the euro. The initiative reflects growing interest among traditional banks in blockchain-based payments and could help them compete with established stablecoin issuers. The opportunity, however, is still developing. Reuters noted that existing bank-issued stablecoins have seen limited adoption, while established players such as Tether continue to dominate the market. That means the project could take years to become financially meaningful for participating
About EN590 Commodities Group
25+ years in mineral exploration and extraction. 15+ years of global commodity trading. Based in New York, USA serving 75+ countries.