Bank of America to Launch USD-Pegged Stablecoin Amid Regulatory Uncertainty

Bank of America is set to enter the cryptocurrency market with the launch of a USD-pegged stablecoin, pending regulatory approval from U.S. lawmakers. The announcement was made by CEO Brian Moynihan, who emphasized the stability and functionality of stablecoins as similar to traditional financial instruments like money market funds or bank accounts. This move positions Bank of America for competition in the growing stablecoin landscape alongside established issuers such as Circle and Tether.