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flag Ten major banks are teaming up to explore a G7-backed digital stablecoin for faster, more efficient payments.

flag Ten major global banks, including Bank of America, Goldman Sachs, and UBS, are forming a consortium to explore a blockchain-based stablecoin backed by G7 currencies, aiming to improve payment efficiency and competition. flag The project, focused on regulatory compliance and risk management, reflects growing institutional interest in digital assets amid evolving global regulations and rising crypto adoption. flag While stablecoins like Tether dominate the market, bank-issued versions have seen limited use. flag The initiative is still in early stages, with broader implementation uncertain, but aligns with wider efforts to digitize finance through tokenized assets and faster settlement systems.

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