10 Major Banks, Including Goldman Sachs and Bank of America, Make Joint Cryptocurrency Move!

Global banking giants are exploring joint stablecoin issuance, signaling a deeper integration between traditional finance and cryptocurrencies, Reuters reports. Accordingly, major global banks such as Santander, Bank of America, Barclays, BNP Paribas, Citi, Goldman Sachs and UBS are forming a consortium to issue a common stablecoin. “The banks said in a press release that they would work together to create blockchain-based assets pegged to G7 currencies,” Reuters ￰0￱ was stated that this initiative aims to increase cross-border payment efficiency, reduce foreign exchange costs and prevent competition from cryptocurrency ￰1￱ banks were stated to be “Bank of America, Goldman Sachs, Deutsche Bank, BNP Paribas, Santander, Barclays, TD Bank, MUFG, UBS and Citi”. *This is not investment ￰2￱ Reading: 10 Major Banks, Including Goldman Sachs and Bank of America, Make Joint Cryptocurrency Move!