cryptobriefing.com
Goldman Sachs, Citigroup, Santander and Deutsche Bank are part of a group of financial firms that have committed around $270 million to a jointly owned stablecoin venture, Bloomberg reported Tuesday, citing people familiar with the matter.
The funds are expected to support five years of operations at the company, which will be based in the US and issue a dollar-pegged stablecoin. The venture, known among participants as Project Faro, is searching for a chief executive and has not yet chosen an official name.
