Bank of America CEO Brian Moynihan has confirmed the bank’s interest in entering the stablecoin market, provided that clear U.S. regulations are established.
Speaking at recent conferences, he emphasized that regulatory readiness is the key factor shaping the bank’s decision, while highlighting the efficiency of stablecoins in cross-border payments and retail settlements.
Moynihan noted that stablecoins could significantly improve transaction speed and reduce costs, especially for cross-border transfers. If adopted, they could also increase liquidity in emerging markets and enhance financial efficiency for both consumers and institutions.
Bank of America’s potential entry reflects the growing role of stablecoins in the banking sector. However, the move will depend on legislative approval and the readiness of both regulators and the broader market.
“We’re working with the industry, working individually… the problem before was it wasn’t clear we were allowed to do it under the banking regulations.”
Brian Moynihan
Bank of America Eyes Stablecoins Amid Regulatory Uncertainty
Banks and regulators are watching closely as Bank of America signals interest in stablecoins, with CEO Brian Moynihan stressing that “collaboration is key.” His remarks point to potential partnerships with industry players, hinting that institutional solutions may emerge once U.S. regulations are in place.
Meanwhile, USD Coin (USDC) remains a benchmark for stability in the market. Data from CoinMarketCap shows a market capitalization of $67.76 billion and a steady $1.00 peg, with trading volumes reaching $17.93 billion in recent activity. Over the past 90 days, USDC has held firm, underlining both its liquidity and dominance among stablecoins.
Analysts believe that if major banks like Bank of America move into the sector, the effect could reshape financial systems.
