Goldman Sachs, Citi among banks said to commit $270 million to stablecoin venture
Summary
Major financial institutions including Goldman Sachs and Citigroup are reportedly backing a new digital currency project. Known as Project Faro, the initiative will launch a dollar-pegged stablecoin and establish its operations within the United States.
The venture, known as Project Faro, plans to issue a dollar-denominated stablecoin and is expected to be incorporated in the U.S.
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