# 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.

- Published: 2026-11-11T05:35:20.767Z
- Canonical: https://polylog.news/crypto/2026-11-11/goldman-sachs-and-citi-among-banks-said-to-commit-270-millio
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CoinDesk (Project Faro)](https://www.coindesk.com/business/2026/11/10/goldman-sachs-citi-among-banks-said-to-commit-usd270-million-to-stablecoin-venture), [CoinDesk (opinion)](https://www.coindesk.com/opinion/2026/11/10/will-stablecoins-survive-once-the-banks-catch-up), [BBVA](https://www.bbva.com/en/innovation/group-of-leading-international-financial-institutions-to-establish-stablecoin-enterprise/), [CoinDesk (Plume)](https://www.coindesk.com/markets/2026/11/10/emb-10-am-et-plume-affiliate-gets-the-legal-green-light-to-trade-regulated-security-entitlements-onchain), [CoinDesk (Bullish)](https://www.coindesk.com/business/2026/11/10/former-nyse-president-says-stock-issuers-hold-the-key-to-tokenization-as-bullish-builds-its-platform)

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…

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