{
  "id": 5537534,
  "title": "Goldman Sachs and BofA Are Making a Major Stablecoin Bet. Is It Worth Watching?",
  "url": "https://urgent.news/2026/09/03/goldman-sachs-and-bofa-are-making-a-major-stablecoin-bet-is-it-worth",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-03T01:28:45.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/crypto/articles/goldman-sachs-bofa-making-major-012845561.html"
  },
  "original_language": "en",
  "account": "Two major financial institutions, Goldman Sachs and Bank of America, are collaborating on a U.S. dollar-backed stablecoin to be launched in early 2027. Their plan is for a joint venture that could later expand to incorporate other G7 currencies like the euro. This move comes as traditional banks explore blockchain-based payments and seek to compete with established stablecoin issuers like Tether. While early bank-issued stablecoins have had limited adoption, the initiative could still take years to generate meaningful financial gains for participating banks. Goldman Sachs could leverage its institutional client base and trading expertise, potentially expanding services around the stablecoin as it gains traction. Bank of America, with its extensive payments and commercial banking operations, may find particular relevance in a bank-issued stablecoin to assist its corporate and institutional clients. The risk lies in weak adoption, as evidenced by Societe Generale's dollar-backed stablecoin, which has only around $12.5 million in circulation compared to Tether's over $180 billion. Competition from established stablecoin providers and other financial institutions developing digital-payment solutions poses another challenge. Regulatory uncertainty also adds another layer of risk. Despite these challenges, the initiative could enable both banks to position themselves for a potential shift toward blockchain-based payments. However, investors should not expect a significant near-term earnings impact from this project. The banks are betting on future adoption of stablecoins, which is yet to be proven.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}