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Bank of America plans to launch stablecoin, waiting for the right time
Odaily News Brian Moynihan, CEO of Bank of America, said that the bank is preparing to launch a stablecoin, and investors can expect Bank of America to take action in the field of cryptocurrency, but Brian Moynihan did not provide a specific timetable. Moynihan said, As the second largest bank in the United States, Bank of America believes that both the industry and itself will take action. We have done a lot of work and are still trying to figure out the scale of stablecoins, because the scale of capital flows in some areas is not large. Bank of America is trying to understand customer needs and will launch stablecoins at the right time, possibly in cooperation with other institutions. Banks are still waiting for legal clarity, which is why progress is slower than some investors expected. Sharon Yeshaya, CFO of Morgan Stanley, also said today that she is closely following the development of stablecoins. We are looking at the market and the potential uses of stablecoins for our customer base, but it is too early.
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