- 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.
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.
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.
