Bank of America CEO Signals Readiness to Launch Stablecoin Pending U.S. Legislation

Brian Moynihan stated that the bank could enter the stablecoin market if Congress approves new regulations during the Trump administration's first 100 days.

Bank of America CEO Brian Moynihan expressed the bank's intention to launch a dollar-backed stablecoin once regulatory approval is secured.
Moynihan compared stablecoins to money market funds or bank accounts, emphasizing their potential utility in payments and financial transactions.
The U.S. Congress is working on stablecoin legislation, with lawmakers aiming to pass it within the first 100 days of President Trump's administration.
Moynihan highlighted that Bank of America has historically been cautious about crypto but is prepared to compete in the sector as regulations evolve.
The stablecoin market has grown significantly, facilitating $33 trillion in transactions last year, surpassing Visa and Mastercard combined in volume.