Goldman and Citi Help Fund $270 Million Stablecoin Venture
By PYMNTS
AI summary of the source article
Goldman Sachs, Citigroup, Santander, and Deutsche Bank have reportedly pledged approximately $270 million toward a joint stablecoin venture. The funding is intended to cover five years of operations at the new company.
Why it matters
The funding is aimed at covering five years of operations at the new company.
Key facts
- Banking giants including Goldman Sachs, Citigroup, Santander, and Deutsche Bank pledged roughly $270 million toward a joint stablecoin venture.
- The funding is designed to cover five years of operational expenses for the new entity.
Source excerpt · PYMNTS
A group of banking giants have reportedly pledged roughly $270 million in financing toward a joint stablecoin venture. The banks included Goldman Sachs, Citigroup, Santander and Deutsche Bank, Bloomberg News reported Tuesday (Nov. 10), citing sources familiar with the matter. The funding is aimed at covering five years of operations at the new company, plans […] The post Goldman and Citi Help Fund…