TLDR
- Bank of America is reportedly developing its own stablecoin as part of a growing interest in digital assets.
- The bank had earlier considered launching the stablecoin in partnership with JPMorgan and other firms.
- CEO Brian Moynihan previously stated that the bank has no choice but to enter the stablecoin market.
- The stablecoin is expected to be pegged to the US dollar and could impact transaction speed and liquidity.
- This move aligns with a broader trend of traditional financial institutions entering the crypto space.
Bank of America is reportedly developing its stablecoin, signalling a stronger push into digital assets by traditional finance. The move highlights a growing shift among major banks toward blockchain-based solutions for faster, more efficient settlements. This development follows previous hints of collaboration with other banking institutions that have yet to be confirmed.
Banking Giants Are Entering the Stablecoin Race
Bank of America has increased its blockchain focus as part of a broader industry trend toward digital currencies. While many financial firms explore blockchain, stablecoins have emerged as a key priority in recent months. Several banks have begun building their tokens to compete in the rapidly evolving digital finance space.
The current effort from Bank of America aligns with recent activity among leading U.S. banks. Financial firms have filed patents, tested digital assets, and hired blockchain specialists, adding momentum to an industry increasingly shaped by large, regulated institutions.
Recent discussions reportedly included collaboration with JPMorgan and other major banks. That partnership has not materialized, but further developments remain possible. Bank of America is now independently advancing and launching its stablecoin.
Bank of America Accelerates Its Blockchain Strategy
In March, CEO Brian Moynihan stated the bank had no choice but to enter the stablecoin market. He had previously expressed limited support for crypto assets, but his stance appears to have shifted. This change coincides with broader policy discussions about digital currencies’ role in global finance.
The decision may also reflect mounting pressure from regulators and competitors. Other U.S. financial firms have already begun rolling out digital asset products. Bank of America’s entry into stablecoins could trigger further moves by rival institutions.
JUST IN: 🇺🇸 Bank of America CEO says the bank is developing its own crypto stablecoin.
— Watcher.Guru (@WatcherGuru) June 11, 2025
So far, the bank has not shared a timeline for the stablecoin’s release. However, preparations appear to be underway across its digital and compliance divisions. Progress on the initiative may become more visible in the coming months.
Stablecoin Launch Could Reshape Market Dynamics
If launched, Bank of America’s stablecoin would likely be pegged to the U.S. dollar. This could increase market liquidity and provide competition for private sector coins. It could also enhance transaction speed across banking platforms using blockchain infrastructure.
Stablecoins have recently gained attention from U.S. policymakers, including discussions on future monetary strategies. This environment may accelerate major banks’ product development. Bank of America’s involvement would mark a significant milestone in that shift.
