A consortium of major global banks, including Goldman Sachs, Deutsche Bank, Bank of America, and Santander, is set to explore the issuance of a "1:1 reserve-backed digital currency" on public blockchains. This initiative aims to develop stable payment tools based on G7 currencies. The alliance, which also includes Citi, MUFG, TD Bank, and UBS, seeks to provide a reliable and stable digital currency foundation for public blockchain payment scenarios without relying on centralized institutions.
Major Banks Form Alliance to Explore Blockchain-Based Digital Currency
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