Global Banking Giants Team Up to Launch New Reserve-Backed Digital Currency

A consortium of leading financial institutions is poised to launch a new stablecoin, potentially revolutionizing digital payments. Banks like Bank of America, Goldman Sachs, Citigroup, and BNP Paribas are joining forces to create a digital asset backed by fiat currency reserves. This initiative aims to make the currency usable on public blockchains, focusing on G7 currencies.