Goldman Sachs, Deutsche Bank Lead Nine-Bank Blockchain Money Initiative

Coinspeaker2025/10/09 16:00

By:By Ibrahim Ajibade Editor Marco T. Lanz

Nine major banks including Goldman Sachs and Deutsche Bank are collaborating to create reserve-backed digital money on public blockchains, focusing on G7 currencies.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

Key Notes

Major financial institutions unite to bring blockchain infrastructure into mainstream global payment systems.
The initiative aims to enhance settlement speed, reduce costs, and improve liquidity through stablecoin technology.
Growing momentum follows Trump's Genius Act and Europe's similar euro stablecoin project launching in 2026.

Goldman Sachs Group Inc., Deutsche Bank AG, Bank of America Corp., and Banco Santander have joined forces in a nine-bank coalition to explore the creation of blockchain-based digital money. The initiative marks another major step by traditional financial institutions to integrate cryptocurrency infrastructure into global payment systems.

The consortium also includes BNP Paribas, Citigroup Inc., MUFG Bank Ltd, TD Bank Group, and UBS Group AG. Together, they plan to investigate the issuance of a 1:1 reserve-backed form of digital money available on public blockchains, with an initial focus on G7 currencies.

Goldman, Santander Among Banks Exploring Blockchain-Based Money

According to Bloomberg reports on Friday, the banks are in active discussions with regulators and supervisors in relevant jurisdictions. With the objective to create a new class of digital money, the project could improve payment efficiency and deliver the advantages of blockchain to mainstream finance.

This development comes as the global banking sector accelerates its blockchain adoption efforts. Stablecoins, cryptocurrencies pegged to fiat currencies like the US dollar or euro, have witnessed increased corporate demand over the past year.

While stablecoins remain primarily used in crypto trading, banks now see them as promising tools for instant settlement, cost reduction, and improved liquidity management.

Goldman Sachs, Deutsche Bank Lead Nine-Bank Blockchain Money Initiative image 0

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

DeFillama data shows the global stablecoin sector valuation has hit $303 billion at press time, increasing by nearly $100 billion in 2025 alone.

Trump’s Genius Act Sparks Global Stablecoin Adoption

US President Donald Trump’s signing of the Genius Act into law in July has intensified global momentum toward digital currency adoption, accelerating regulatory clarity and institutional participation.

In September, nine European banks, including ING, UniCredit, and Danske Bank, announced a similar initiative to develop a euro-denominated stablecoin compliant with the EU’s Markets in Crypto-Assets (MiCAR) framework . The “ Euro Stablecoin ” project aims to launch in the second half of 2026 as a strategic European alternative to dollar-based systems.

Meanwhile, this week, in the United States, North Dakota became the first state to announce plans for a state-backed “Roughrider Coin” for interbank payments and local business transfers.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

After the US October CPI exceeded expectations, Goldman Sachs and Nomura added a forecast for an interest rate hike in March next year, while Deutsche Bank included a forecast for a rate hike in January next year. Currently, the market has fully priced in a 25 basis point rate hike in December, with a 13% probability for a 50 basis point hike. On Wednesday, the US Treasury spot market was closed, but Treasury futures continued to fall, with corresponding yields rising by about 2 to 4 basis points, and spot gold came under pressure, dropping by 1.1%.

华尔街见闻•2026/11/11 21:18

Wall Street giants collectively raise rate hike forecasts, US Treasury futures continue to fall, gold drops over 1% to break 4000

No Need to Worry About the Cooling Down of AI Data Center Construction? The US Import Boom Is Unlikely to Subside in the Short Term, Real Impact May Come in 2029

It takes an average of 4.8 years from finalizing investment to starting construction of a data center project, and an additional 2.6 years from construction start to becoming operational. Servers usually cannot be installed until after the building structure and racks are completed. For trade partners such as Taiwan (China), South Korea, and Mexico who rely on US data center supply chain demand, the inertia in construction timelines provides at least a one- to two-year buffer for future exports.

华尔街见闻•2026/11/11 21:18

No Need to Worry About the Cooling Down of AI Data Center Construction? The US Import Boom Is Unlikely to Subside in the Short Term, Real Impact May Come in 2029

Federal Reserve Major Debate: When Should the Tenure of “Number Three” Williams End?

The main point of contention is whether Williams should step down in June 2028, upon completing a full 10-year term, or in June 2027, when he reaches the mandatory retirement age of 65. Analysts point out that the Federal Reserve Board holds ultimate discretion; if he leaves early, Fed Chair Waller would be able to assert greater control over the appointment to this critical position. However, forcing Williams to shorten his term could easily be interpreted as political manipulation. Williams himself is expected to serve until June 2028.

华尔街见闻•2026/11/11 21:18