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Bank of America is actively exploring stablecoin integration to streamline its massive payment infrastructure, CEO Brian Moynihan revealed during the bank's Q2 earnings call. This move could revolutionize how trillions in daily client transactions are processed.
The banking giant's initial focus centers on stablecoins as a payment mechanism rather than speculative assets. Moynihan emphasized the technology's potential to enhance dollar and euro transfers, stating clients will naturally adopt stablecoins if they prove efficient for moving funds.
——This isn't theoretical exploration—— Bank of America has reportedly been collaborating with JPMorgan and Citigroup since early 2025 on potential joint stablecoin initiatives. The bank's cautious approach reflects the current regulatory uncertainty surrounding digital assets.
The stablecoin market has ballooned to 【$257 billion】 in circulation, nearly doubling since 2023. Tether's USDT and Circle's USDC dominate 85% of this rapidly expanding sector.
Interestingly, while the GENIUS Act gained Senate approval in June, progress stalled in the House this week. The proposed legislation would establish federal oversight for stablecoin issuers, potentially clearing the path for major financial institutions to enter the space.
Bank of America posted mixed Q2 results: • Net income: ▲3% to $7.12 billion (beat forecasts) • Revenue: ▲4% to $26.61 billion (slightly below expectations)
The bank's stablecoin exploration coincides with broader industry recognition that blockchain-based payments are becoming the internet's default settlement layer. Remarkably, stablecoin transaction volumes surpassed Visa and Mastercard combined in 2024.
As regulatory clarity remains pending, Bank of America's measured approach reflects both the technology's promise and the financial sector's cautious adoption curve. The coming months may prove decisive as lawmakers reconsider the stalled GENIUS Act.