---
title: "Global banks commit $270M to stablecoin venture targeting 2027 launch"
url: https://thecoingazette.com/global-banks-commit-270m-to-stablecoin-venture-targeting-2027-launch/
date: 2026-11-10
modified: 2026-11-10
lang: en
author: "Coin Gazette Editorial"
description: "Project Faro, backed by Goldman Sachs, Citigroup and BBVA, has secured $270 million in funding to launch a US dollar stablecoin in the first half of 2027."
categories:
  - "Crypto News"
tags:
  - "crypto"
  - "cryptocurrencies"
  - "Defi"
  - "Market Trends"
  - "News"
word_count: 27
---

# Global banks commit $270M to stablecoin venture targeting 2027 launch

Project Faro, backed by Goldman Sachs, Citigroup and BBVA, has secured $270 million in funding to launch a US dollar stablecoin in the first half of 2027.