Bank of America CEO Brian Moynihan Eyes Stablecoin Launch

Bank of America CEO Brian Moynihan has stated that the bank is prepared to launch its own dollar-backed stablecoin if US lawmakers legalize such initiatives. Speaking at the Economic Club of Washington, DC, Moynihan said, “If they make that legal, we will go into that business.”

The announcement comes as the Trump administration pushes for the passage of the Genius Act, a stablecoin oversight bill, within its first 100 days. Senate Banking Committee Chairman Tim Scott has committed to advancing the legislation.

Moynihan compared the potential stablecoin to foreign currency transactions, stating, “You’ll have a Bank of America coin and a US Dollar deposit, and we’ll be able to move them back and forth.”

The move reflects growing interest in stablecoins as a bridge between traditional banking and digital assets.