Major banks explore G7-currency stablecoins #
A group of major global banks is exploring the creation of stablecoins backed by G7 currencies, according to Reuters. The initiative aims to issue digital tokens pegged to currencies such as the U.S. dollar, euro, and yen, allowing faster and cheaper cross-border settlements between financial institutions
The discussions reportedly involve several of the world’s largest banks and payments networks, with the goal of leveraging blockchain infrastructure for interbank transactions while maintaining regulatory compliance. The project reflects growing interest among traditional financial institutions in adopting blockchain-based solutions without exposure to volatile crypto assets
If implemented, the system could serve as an alternative to private stablecoins and central bank digital currencies (CBDCs), offering a bank-controlled model for digital settlements. Sources familiar with the matter told Reuters that technical and regulatory feasibility studies are already underway, though no formal launch timeline has been set.