Decrypt reports that Goldman Sachs, Citigroup, and other global banks have committed $270 million to support a U.S.-based stablecoin issuer known as "Project Faro." This funding aims to cover five years of operations, as traditional financial institutions seek to compete with established crypto firms like Tether and Circle.
Based on the Decrypt report; not independently verified.
Source published: Tue, 10 Nov 2026 18:33:37 +0000
[Read the original report](https://decrypt.co/382953/goldman-citi-global-banks-270-million-challenge-crypto-stablecoin-giants)
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