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Home BUSINESS

Bank of America CEO Considers Launching Own Stablecoin: Here is What You Need to Know

Michael Juanico by Michael Juanico
February 26, 2025
in BUSINESS, CRYPTO, FINANCE, POLITICS
Reading Time: 3 mins read
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  • Bank of America may launch a stablecoin, but only if clear U.S. regulations are passed.
  • Lawmakers are pushing multiple stablecoin bills, including the STABLE Act of 2025 and Clarity for Payment Stablecoins Act.
  • Federal Reserve Governor Christopher Waller supports banks issuing stablecoins, citing benefits for payments and cross-border transactions.

Bank of America could be gearing up for a stablecoin launch—but only if the U.S. passes clear legislation, according to CEO Brian Moynihan. Speaking at the Economic Club of Washington DC, Moynihan made it clear:

“If they make that legal, we will go into that business.”

While he didn’t offer specifics, he suggested the bank could issue a dollar-backed token tied to customer deposits, a move that would align with the growing push to regulate and legitimize stablecoins.

ICYMI: 🇺🇸 Bank of America CEO showed interest in launching a USD-pegged stablecoin if approved by the fed

He claims this would be no different than a bank account

Would you use a bank-launched stablecoin over $USDC or $USDT? pic.twitter.com/uwYrQ1bSDC

— BlockNews (@blocknewsdotcom) February 26, 2025

Stablecoins Gaining Momentum Under Trump’s Administration

With regulations taking shape, stablecoins could see a major expansion under President Trump’s administration. Lawmakers are exploring ways to integrate dollar-pegged tokens into global trade, strengthening U.S. financial dominance while bringing stablecoin firms onshore.

Some of the key bills in play:

  • The STABLE Act of 2025—focused on studying and developing a stablecoin framework.
  • Lummis-Gillibrand Payment Stablecoin Act—seeking clear guidelines for payment-focused stablecoins.
  • The Clarity for Payment Stablecoins Act of 2024—proposed by Senator Bill Hagerty, allowing smaller stablecoin issuers (<$10B market cap) to be regulated at the state level.

With bipartisan interest growing, stablecoin regulation is moving from discussion to action.

thecryptobasic.com

Federal Reserve & Banks Getting Involved

It’s not just lawmakers—the Federal Reserve is weighing in too.

  • Fed Governor Christopher Waller recently spoke in favor of banks issuing stablecoins, calling it a game-changer for cross-border payments.
  • He emphasized stablecoins’ potential to revolutionize retail transactions, citing lower costs and near-instant settlement times.
  • Private sector players are already positioning themselves, expecting regulatory clarity to open the floodgates.

With big banks, lawmakers, and even the Fed warming up to stablecoins, it’s only a matter of time before major institutions jump in. If Bank of America makes its move, it could set off a wave of traditional finance giants embracing digital dollars.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: bank of americaChristopher WallerFederal ReserveLawmakersStablecoin
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Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.

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