Morning Edition · Wednesday, November 11, 2026Published at 12:35 AM EST · New York

Goldman Sachs and Citi Among Banks Said to Commit $270 Million to a Dollar Stablecoin Venture

The venture, called Project Faro, plans to incorporate in the United States, and it joins a wider bank push into dollar tokens and tokenized securities as Tether and Circle together hold $245.84 billion of supply.

A group of banks that includes Goldman Sachs and Citi has committed $270 million to a stablecoin venture called Project Faro, CoinDesk reported. The venture plans to issue a dollar-denominated stablecoin and is expected to incorporate in th…