Bank of America Explores Stablecoins for Payment Modernization

Bank of America CEO Brian Moynihan revealed during the Q2 earnings call that the institution is actively exploring stablecoins to revolutionize its payment infrastructure. The bank views stablecoins primarily as a transactional tool to enhance efficiency across its trillion-dollar client transaction flows.

Moynihan highlighted completed groundwork and scalability assessments, signaling cautious but deliberate movement toward adoption. Regulatory clarity remains a key gating factor, though the bank has engaged in discussions with JPMorgan and Citigroup about potential collaborative stablecoin issuance since early 2025.

The announcement coincides with stablecoins eclipsing traditional payment networks—2024 saw stablecoin volumes surpass Visa and Mastercard combined. Circulation has ballooned to $257 billion, nearly doubling since early 2023, with Tether's USDT and Circle's USDC leading the charge.