Bank of America Seeks Approval to Launch Stablecoin, Potentially Entering Market by 2025

Bank of America is exploring the creation of a dollar-backed stablecoin if federal regulators provide clear guidelines for digital assets. The company’s CEO, Brian Moynihan, hinted at this possibility during a recent interview at the Economic Club of Washington D.C., stating that they could issue a token tied directly to U.S. dollar deposits. This move comes as Bank of America seeks to leverage its existing customer base and deposit infrastructure for potential market dominance.