Global Banks Collaborate on G7-Pegged Stablecoin Project to Modernize Payments

Ten leading banks have joined forces to develop a G7-pegged stablecoin, aiming to modernize global digital payments and leverage blockchain technology. This move is driven by new regulatory frameworks in the U.S. and Europe that encourage the development of regulated stablecoins. Analysts predict bank-backed stablecoins could attract trillions of dollars in deposits in coming years.