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Bank of America Is Prepping Stablecoin Plan

The major U.S. bank is preparing for a digital dollar launch pending legislation
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Jul 16, 2025 • 1 min read

Bank of America CEO Brian Moynihan confirmed the bank is actively developing stablecoin infrastructure and plans to launch a fully backed digital dollar once Congress clears the legal path.

What’s the Scoop?

  • Work underway: Moynihan said BofA “has done a lot of work” on stablecoin development during the Q2 earnings call, and is ready to deploy once regulatory clarity arrives.
  • Legislative trigger: The launch hinges on U.S. stablecoin bills like the GENIUS Act and related crypto legislation currently moving through Congress.
  • Strategic partner model: The bank expects to introduce the stablecoin via partnerships rather than solo—waiting until client demand justifies rollout.
  • Peer bank momentum: JPMorgan Chase and Citigroup are already piloting their own stablecoin-like solutions, highlighting rising institutional momentum.
  • Use-case potential: Moynihan likens a BofA stablecoin to bank accounts or US money market funds—suggesting faster, cheaper, regulated transfers and dollar synergy.

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