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Stablecoin Deposit Competition

CITIGROUP INC · 2026-09-01 · Importance 31 · Surprise 42 · In source text

Citigroup is among 21 financial firms collaborating on a dollar-denominated stablecoin aimed initially at commercial clients, with potential retail applications. The consortium plans to compete with established digital-asset issuers, including Tether, whose stablecoin circulation exceeds $180 billion. The initiative is expected to launch in early 2027 and could later expand from dollars into other G7 currencies.

Key facts

• The consortium including Citigroup plans to launch a dollar-backed stablecoin in early 2027. source
• Citigroup is one of twenty-one financial firms collaborating to launch a stablecoin. source
• The planned stablecoin will be dollar-denominated before expanding to other G7 currencies. source
• The stablecoin initiative will initially focus on commercial clients (with retail uses also being considered). source

Impact estimates