US Edition
Bank of America Expects to Launch Stablecoins as Morgan Stanley Weighs Use
UNITED STATES, JUL 15 – Bank of America prepares its stablecoin launch as U.S. legislation advances, with the market expected to reach $2 trillion in five years, according to the U.S. Treasury.
- Bank of America CEO Brian Moynihan announced today the bank is preparing to launch a stablecoin but gave no timeline for its release.
- This announcement follows ongoing development and cautious assessment of client demand, which Moynihan said is still unclear and not high at this point.
- Bank of America identifies cross-border transactions as a major potential application for stablecoins and anticipates launching its own stablecoin, likely in collaboration with other companies, as institutional interest continues to grow.
- Moynihan noted that while the company has made significant progress, it is continuing to assess the scale of the issue and will proceed when the appropriate time comes.
- The planned launch coincides with pending stablecoin regulation, including the GENIUS Act currently stalled in the House, suggesting regulatory clarity could influence timing.
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While the United States has just crossed a decisive course by voting in the House several new laws governing stables, the big American banks are already sharpening their strategy. Bank of America, Citigroup or even JPMorgan are preparing, in complete discretion, the launch of their own stablecoins. The US banking giants are embarking on the race for stablecoins has appeared first on Cointribune.
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Total News Sources26
Leaning Left0Leaning Right0Center6Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
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