A consortium of major global banks, including Bank of America, Goldman Sachs, Deutsche Bank, BNP Paribas, Santander, Barclays, TD Bank, MUFG, UBS, and Citi, is reportedly collaborating on plans to launch a joint stablecoin initiative. This move marks a significant step in the financial sector's engagement with digital currencies, aiming to leverage blockchain technology for more efficient cross-border transactions and financial services. The initiative underscores the growing interest and investment in stablecoins as a means to enhance the stability and efficiency of digital payments.