CryptoMedium•10 November 2026•
1 min read
Goldman Sachs and Citigroup Join $270M Funding for Project Faro Stablecoin
Key Facts
1Project Faro secured $270 million in funding from global banks including Goldman Sachs, Citigroup, and BBVA.
2The project aims to launch a US dollar-pegged stablecoin in the first half of 2027.
Project Faro secured $270 million in funding from global banks including Goldman Sachs, Citigroup, and BBVA. Cointelegraph reported that the venture aims to launch a US dollar-pegged stablecoin in the first half of 2027, focusing on building a regulated infrastructure for institutional participants.
GS closed at $906.22 and C closed at $121.97 on November 9, 2026, as major lenders expand their digital asset footprints. During the same period, MS closed at $187.1 and BAC closed at $50.55 on November 9, 2026, while JPM closed at $342.07 on November 10, 2026.