Banks Fund Stablecoin Venture Project Faro for Five Years, Still Seek a CEO

TLDR Goldman Sachs, Citigroup, Banco Santander and Deutsche Bank are among 21 firms backing Project Faro. The group has committed about $270 million to cover roughly five years of operating costs. A US dollar stablecoin is planned for the first half of 2027, with a euro token next. The venture is still searching for a [...]

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