Bank of America CEO Confirms Stablecoin Plans Are in Motion

Bank of America is actively developing a stablecoin offering, CEO Brian Moynihan revealed during a post-earnings conference call on Wednesday.

While he did not provide a specific launch date, Moynihan confirmed that the bank has made substantial progress and intends to move forward once market demand becomes more evident.

“We feel both the industry and ourselves will have responses. We’ve done a lot of work,” said Moynihan, noting that the lender is still assessing the scale and timing of its stablecoin rollout. He emphasized that the volume of money movement in certain segments remains relatively small, making it essential for the bank to evaluate whether a stablecoin solution is justified at scale.

Stablecoins are digital assets pegged to fiat currencies like the U.S. dollar and are frequently used in crypto trading to facilitate transfers between tokens. Although investor interest remains moderate at the moment, Bank of America is preparing for future adoption, potentially in partnership with other financial or technology players.

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Moynihan likened the stablecoin initiative to the broader banking sector’s gradual embrace of digital payment tools such as Zelle and Venmo. “You would expect our company to move on that,” he added.

The remarks position Bank of America, the second-largest bank in the U.S., among a growing list of traditional financial institutions exploring blockchain-based payment infrastructure amid shifting regulatory frameworks and client expectations.

While details remain limited, the confirmation signals increasing readiness among major banks to enter the stablecoin market.

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Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.