BofA CEO confirms bank is exploring stablecoins for potential payment revolution

Bank of America is exploring the use of stablecoins to improve its payment systems and process client transactions more efficiently, according to CEO Brian Moynihan. The bank is primarily focused on using stablecoins as a way to streamline money movement within its infrastructure and is assessing the scalability of stablecoins across various transaction types. Bank of America has been researching stablecoins since early 2025 and has had discussions about potentially issuing a stablecoin jointly with other major banks. This announcement comes as stablecoin transaction volumes have surpassed those of Visa and Mastercard in 2024, and the value of stablecoins in circulation has nearly doubled since early 2023, reaching $257 billion, with USDT and USDC comprising over 85% of the total. Regulatory clarity is still being developed, with a bill called the GENIUS Act currently awaiting a vote in the House.