Wall Street Banks Commit $270M to Stablecoin Challenger Project Faro: Bloomberg

A formidable coalition of 21 financial institutions, including Goldman Sachs, Citigroup, and Bank of America, has committed approximately $270 million to a joint stablecoin venture known internally as Project Faro. According to “people familiar with the matter,” speaking with Bloomberg, the banking consortium is targeting a commercial launch in 2027.

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