Goldman Sachs joined a bank-backed stablecoin project that may open a payments business. Its share of the $270 million and any expected income were not reported, so the story does not show a clear change in its outlook.
For Goldman Sachs, the project could create a role in blockchain payments and use its customer links. The story does not say how much Goldman will contribute or what income it could earn, so it does not show a clear change in the company’s outlook.
Citigroup joined a bank-backed stablecoin project that may create a new payments business. Its share of the cost and any expected income were not reported, so the story does not show a clear change in its outlook.
Circle faces a bank-backed rival aiming to challenge its leading position, with the banks’ customer links and payment systems behind it. Circle and Tether still control almost 85% of the market, but the new group has a credible way to compete.
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