Major banks explore stablecoins pegged to G7 currencies

A consortium of global banks, including Citi, UBS, and Goldman Sachs, is exploring the creation of stablecoins pegged to major G7 currencies. The initiative seeks to standardize cross-border settlements and reduce payment frictions. Regulators are expected to review pilot structures by early 2026. Analysts say the move underscores traditional finance’s deeper foray into blockchain infrastructure.