Wells Fargo joins 21 institutions planning a stablecoin enterprise

Wells Fargo joined 20 other institutions in committing to establish a stablecoin company in the second half of 2026, subject to closing conditions. The proposed company initially targets a U.S.-dollar stablecoin, with euro issuance a priority for later expansion and a first-half 2027 market launch objective. Participants include Bank of America, Capital One, Citi, Fidelity, Goldman Sachs, PNC, Scotiabank, TD, WisdomTree, Santander, BBVA, Commerzbank, Crédit Agricole, Deutsche Bank, Lloyds, Rabobank, UBS, MUFG, Sirius International Holding and Standard Bank. The company remained unnamed in the announcement; investment amounts and ownership stakes were not disclosed.