# Goldman, Citi Among Banks Committing $270M to Fund Joint Stablecoin Issuer for Five Years

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6 outlets covering · First listed: CryptoPotato, Nov 11, 2026, 12:58 AM · Read it: <https://cryptopotato.com/goldman-citi-among-banks-committing-270m-to-fund-joint-stablecoin-issuer-for-five-years/>

Goldman Sachs and Citigroup are among the banks that have committed about $270 million to a joint stablecoin company, Bloomberg reported on Tuesday. Banco Santander and Deutsche Bank have also joined, according to people familiar with the matter. That money is meant to cover five years of operations at the new company, which will issue

## Who's covering it

In the order they published:

- Nov 10, 2026, 10:12 AM: [Goldman, Citi Among Banks in $270 Million Stablecoin Backing](<https://www.bloomberg.com/news/articles/2026-11-10/goldman-citi-among-banks-in-270-million-stablecoin-backing>) — Bloomberg (Business & finance, United States)
  A group of financial firms including Goldman Sachs Group Inc., Citigroup Inc., Banco Santander SA and Deutsche Bank AG have committed around $270 million in funding toward a joint stablecoin venture, according to people familiar with the matter.
- Nov 10, 2026, 11:15 AM: [Goldman, Citi join $270 million push for bank-backed stablecoin: Report](<https://cryptobriefing.com/bank-backed-stablecoin-goldman-citi-270m/>) — Crypto Briefing (Specialist)
  Major banks' investment in a stablecoin venture signals a shift towards integrating traditional finance with digital currency innovations.
- Nov 10, 2026, 11:32 AM: [Goldman Sachs, Citi among banks said to commit $270 million to stablecoin venture](<https://www.coindesk.com/business/2026/11/10/goldman-sachs-citi-among-banks-said-to-commit-usd270-million-to-stablecoin-venture>) — CoinDesk (Specialist, United States)
  The venture, known as Project Faro, plans to issue a dollar-denominated stablecoin and is expected to be incorporated in the U.S.
- Nov 10, 2026, 12:50 PM: [Sources: Citigroup, Goldman Sachs, and others in a 21-bank consortium have committed ~$270M to fund five years of a stablecoin venture announced in September (Bloomberg)](<https://www.techmeme.com/261110/p41>) — Techmeme (Aggregator, United States)
- Nov 10, 2026, 5:08 PM: [Global banks commit $270M to stablecoin venture targeting 2027 launch](<https://cointelegraph.com/news/banks-270m-project-faro-stablecoin-2027>) — Cointelegraph (Specialist)
  Project Faro, backed by Goldman Sachs, Citigroup and BBVA, has secured $270 million in funding to launch a US dollar stablecoin in the first half of 2027.
- Nov 11, 2026, 12:58 AM: [Goldman, Citi Among Banks Committing $270M to Fund Joint Stablecoin Issuer for Five Years](<https://cryptopotato.com/goldman-citi-among-banks-committing-270m-to-fund-joint-stablecoin-issuer-for-five-years/>) — CryptoPotato (Specialist)
  Goldman Sachs and Citigroup are among the banks that have committed about $270 million to a joint stablecoin company, Bloomberg reported on Tuesday. Banco Santander and Deutsche Bank have also joined, according to people familiar with the matter. That money is meant to cover five years of operations at the new company, which will issue