Bank of America is preparing to enter the stablecoin race, marking a notable shift in strategy as U.S. financial giants ramp up digital asset efforts.
While the bank hasn’t confirmed a launch date, internal work is reportedly well underway as it studies the practicality and demand for its own dollar-pegged token.
According to CEO Brian Moynihan, the bank has made significant progress behind the scenes and is weighing potential use cases. Executives are assessing whether such a product would serve large-scale payment needs or fill more niche roles. Rather than rushing to market, the bank appears focused on understanding where its offering would fit and how to respond in coordination with broader industry developments.
This move follows recent momentum from peers like JPMorgan and Citigroup. Once skeptical of crypto, JPMorgan has begun deploying blockchain tools and even backing Bitcoin. Citigroup, too, is exploring stablecoin issuance as part of its evolving digital finance agenda.
The timing aligns with regulatory developments in Washington, where the GENIUS Act—designed to establish a unified legal framework for stablecoins—is nearing final review in the House. The bill could open the door for banks to enter the space with more confidence and clearer compliance pathways.
Bank of America’s potential entry signals that traditional finance is not only warming up to digital assets—but preparing to compete.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/bank-of-america-moves-toward-stablecoin-entry-as-regulatory-clarity-nears/