According to CoinMeta, as reported by an early issuer of in, 21 international financial institutions plan to establish a new company in the second half of 2026 and launch a US dollar-stabilized coin in the first half of 2027. Subsequent plans aim to expand to more G7 currencies. The participating institutions include Bank of America, Citibank, Morgan Stanley, Goldman Sachs, Deutsche Bank, UBS, Wells Fargo, BBVA, Santander Bank, MUFG Bank, and others. This stable coin is targeted at the wholesale, institutional, and retail markets and will be used for cross-border payments and digital asset settlements. It is also planned to comply with the US Genius Act and EU MiCA regulatory requirements.