According to Unchained, a consortium of 21 firms, including Goldman Sachs and Citigroup, has raised $270 million for Project Faro, a planned U.S. stablecoin issuer. The group is currently searching for a chief executive and aims to launch in 2027.
Based on the Unchained report; not independently verified.
Source published: Tue, 10 Nov 2026 20:20:00 +0000
[Read the original report](https://unchainedcrypto.com/goldman-citi-and-other-banks-reportedly-fund-270-million-stablecoin-initiative/)
CNM Watchlist + audio
Introductory US$5/month. Follow up to 20 tokens and companies, see relevant developments and in-app risk alerts, and listen to on-demand summaries.
- What changed / why it matters / watch next
- Story summaries, all news desks and custom audio briefings
- Shared cached audio; new generation subject to service limits
Watchlist does not unlock additional premium article sections. Free account creation does not start a paid subscription. No automatic trial.