The bank began seriously examining stablecoins in and is considering launching one in partnership with and , pending clear legislation.

Moynihan emphasized that stablecoins could enable efficient transfers of and , although adoption will depend on transaction scale.

The sector’s supports this interest –  surpassed those of and , and total circulation has reached , nearly double since early 2023.

and dominate the market.

Meanwhile, is intensifying.

The bipartisan , aimed at regulating stablecoins, passed the but awaits a .

Financially, BoA reported a 3% rise in net income to $7.12 billion and a 4% revenue increase to $26.61 billion, slightly missing forecasts.