Major banks explore issuing stablecoin pegged to G7 currencies
Government
A group of banks including Bank of America , Citi, Deutsche Bank, Goldman Sachs and UBS will work together to explore creating blockchain-based assets pegged to G7 currencies, the banks said on Friday. The project, which is in its early stages, will explore creating assets on public blockchains which are pegged 1:1 to real-world currencies - known as stablecoins. Various banks and other financial institutions have announced plans to look at launching stablecoins, as soaring crypto prices and U.
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