Twenty-one major international financial institutions plan to form a new company in the second half of 2026 to launch a fully bank-reserve-backed stablecoin solution. The initial product will be a U.S. dollar-denominated stablecoin, with later expansion planned for other G7 currencies, including the euro. The stablecoin is intended for wholesale, institutional, and retail use cases, including cross-border payments and digital asset settlement. The project aims to meet compliance requirements such as the GENIUS Act and MiCA, with a target market launch in the first half of 2027.