21 Financial Institutions Plan to Launch a New Dollar Stablecoin in 2027. Who Will Be the Biggest Winners and Losers?
Project Faro, backed by 21 financial institutions including Goldman Sachs and Citigroup, plans to launch a new dollar stablecoin in 2027 with $270 million in funding. This move, along with the Open USD consortium, intensifies competition in the $300 billion stablecoin market currently dominated by Tether and USDC. While payment processors like Mastercard and Visa stand to benefit, Circle Internet Group (USDC issuer) and PayPal face potential headwinds from these well-funded rivals.



