(Bloomberg) – A group of international banks, including Goldman Sachs Group Inc., Deutsche Bank AG, Bank of America Corp. and Banco Santander, teamed up to investigate the issuance of ‘digital money’ on public blockchains, investigating the latest print of major financial institutions for the payments of the technology. The consortium, which also includes BNP Paribas, Citigroup Inc., Mufg Bank Ltd, TD Bank Group and UBS Group AG, will investigate the issuance of a 1: 1-reserve form of digital money that makes a stable payment asset available, which the banks were available on public blockchains on Friday. The coalition – which said it is in contact with regulators and supervisors in relevant markets – is evaluating whether the offer can increase competition and some of the benefits of digital assets can bring, the statement says. The plans come as banks increase their work that focuses on using blockchain technology for payments. Stableecoins – which is a kind of cryptocurrency that is normally linked to a traditional asset like the US dollar – has attracted a greater interest in the past few months. While used predominantly in cryptocurrency markets, some banks and other major fintech firms see them as a faster and cheaper alternative to traditional payments. The activity by major firms has been encouraged by new regulations in the US and the European Union, which has offered a clearer regulatory framework in which established companies can work. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP
Goldman, Santander under banks investigating blockchain-based money
