AI chip financing hits a wall

Goldman Sachs, Citigroup, Banco Santander, and Deutsche Bank have each committed approximately $270M to a joint stablecoin venture, according to Bloomberg News. The project involves 21 global financial institutions. The investment highlights growing interest in digital currencies among traditional banks.

Goldman Sachs, Citigroup, and other banks committed $270 million to Project Faro, a venture to issue a dollar-denominated stablecoin. The group also plans stablecoins pegged to other G7 currencies, with a euro-denominated token as a priority. The funds will cover five years of operational costs.

Goldman Sachs, Citigroup, Santander, and Deutsche Bank plan to invest $270 million over five years in a US dollar stablecoin venture, according to Bloomberg.

Goldman Sachs, Citigroup, Banco Santander, and Deutsche Bank, among others, have committed $270 million to a joint stablecoin venture called Project Faro. The U.S.-incorporated issuer aims to launch a dollar-pegged token by mid-2027, with plans to expand into other G7 currencies. The venture targets institutional and retail markets, focusing on cross-border transactions and digital asset settlements under regulatory frameworks like the U.S. GENIUS Act and Europe's MiCA.

Goldman, Citi Among Banks in $270 Million Stablecoin Backing, Bloomberg reports.

Liontrust GF Global Dividend Fund's Q3 2026 letter noted a -0.6% return, underperforming the MSCI AC World Index. The fund increased its tech weighting to 39% and highlighted Apollo Global Management (APO) for its $35 billion AI financing deal, the largest private credit transaction ever, according to the fund.