Bank of America Charges Into Stablecoin Arena—CEO Moynihan Confirms Development in Full Swing

Wall Street’s sleeping giant just woke up to crypto.

Bank of America—the $2.7 trillion behemoth that once dismissed Bitcoin as 'rat poison'—is now elbows-deep in stablecoin development. CEO Brian Moynihan quietly confirmed the move during a quarterly earnings call, proving even dinosaurs can learn new tricks when revenue’s at stake.

Why This Isn’t Your Grandpa’s BofA

No specs yet, but insiders hint at a USD-pegged digital dollar targeting institutional clients. Because nothing says 'innovation' like replicating Tether for hedge funds with extra compliance steps.

The Real Play

This isn’t about democratizing finance—it’s a defensive move against JPMorgan’s JPM Coin and Citigroup’s rumored blockchain projects. Watch for BofA’s token to launch with a 2% transaction fee wrapped in 'client convenience' marketing.

As the banking world scrambles to tokenize everything but their bonus structures, one question remains: Will they call it the 'Moynihan Magic Internet Money'?