Coinspeaker
Oct 10, 2025
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Goldman Sachs, Deutsche Bank Lead Nine-Bank Blockchain Money Initiative

Several major banks, including Goldman Sachs, Deutsche Bank, and Banco Santander, have formed a coalition to explore blockchain-based digital money. This initiative aims to integrate cryptocurrency infrastructure into global payment systems.

  • The consortium includes nine banks: BNP Paribas, Citigroup, MUFG Bank, TD Bank, and UBS.
  • The focus is on creating a 1:1 reserve-backed digital currency available on public blockchains, initially targeting G7 currencies.
  • Active discussions are ongoing with regulators to enhance payment efficiency through blockchain technology.

The banking sector's interest in stablecoins, cryptocurrencies pegged to fiat currencies, is growing due to their potential for instant settlement and cost reduction.

Global stablecoin circulation supply hits $303 billion, Oct. 10, 2025 | Source: DeFillama

  • According to DeFillama, the global stablecoin supply reached $303 billion, increasing by nearly $100 billion in 2025.

President Trump's signing of the Genius Act has accelerated digital currency adoption, boosting regulatory clarity and institutional use.

  • European banks are developing a euro-denominated stablecoin under the EU’s MiCAR framework, launching in late 2026.
  • North Dakota announced plans for “Roughrider Coin,” a state-backed stablecoin for local transactions.