Bank of America Gauges Client Demand Ahead of Major Stablecoin Launch – CEO Reveals Strategy
Wall Street's sleeping giant finally stirs—Bank of America is probing institutional appetite before jumping into the stablecoin fray. No more 'wait-and-see' from the trillion-dollar laggard.
Behind the velvet ropes
The bank's CEO confirmed internal teams are stress-testing demand, hedging their bets like a crypto newbie on leverage. Because nothing says 'innovation' like a 2025 feasibility study for tech that's existed since 2014.
The institutional FOMO is real
With BlackRock and Fidelity already eating their lunch in tokenized assets, BofA's move reeks of defensive play—not visionary leadership. But hey, better late than never for a bank that still charges $35 overdraft fees.
Watch this space: The coming months will show whether this is genuine adoption or just another corporate blockchain theater production.
BofA Aims to Rollout Stablecoin When Client Demand is High
Additionally, CEO Moynihan noted that BofA is trying to understand customer demand in the space, which isn’t high currently.
“[The bank] WOULD roll out a stablecoin at an appropriate time, likely in partnership with other players,” he added. Further, the progress has been slower than anticipated by some investors, as banks are still awaiting legal clarity.
On Wednesday, TRUMP announced that 11 of the 12 House representatives have agreed to support the GENIUS ACT bill. The legislation allows for the establishment of a regulatory framework for stablecoins.
The move comes after the House voted 196–222 against advancing the bill on Tuesday and temporarily stalling progress on a wider crypto legislative package.
Some big US banks plan to launch stablecoins, expecting crypto-friendly regulations https://t.co/1Ja8aaJNc6 https://t.co/1Ja8aaJNc6
— Reuters (@Reuters) July 16, 2025Leading US Banks Weigh Stablecoin Entry
On Tuesday, Citigroup announced that it is planning its own stablecoin offering as a part of its broader crypto strategy. Apart from Citi stablecoin, the bank is also exploring reserve management for stablecoins and developing crypto custody services.
“We are looking at the issuance of a Citi stablecoin. This is a good opportunity for us,” said Jane Fraser, CEO of Citigroup.
Besides, Morgan Stanley is following stablecoin developments closely, CFO Sharon Yeshaya noted. She said that the bank is looking into stablecoin use cases and how clients would benefit from it.
“But, it really is a little early to tell, especially for the businesses we run versus businesses that you might see from competitors, on how a stablecoin would play in,” she added.
