Bitcoin 
Ethereum 
Tether 
BNB 
Solana 
XRP 
USDC 
Lido Staked Ether 
Cardano 
Avalanche 
Bank of America stablecoin plans are beginning to take shape as the banking giant evaluates future opportunities.
CEO Brian Moynihan confirmed that the bank is building a dollar-pegged stablecoin with industry partners. He stressed that while demand remains uncertain, the institution “has to be ready” for what comes next.
This cautious yet proactive stance shows Bank of America’s desire to stay relevant in digital finance. Moynihan emphasized that any real movement would rely on upcoming federal guidelines. Lawmakers are discussing rules to govern stablecoins, including redemption processes, reserve quality, and disclosure requirements. These policies could determine the viability of launching a full-scale Bank of America stablecoin.
While Moynihan didn’t provide launch dates, his comments highlight a strategic awareness of tokenized deposits. As the second-largest US bank, Bank of America must align with emerging trends to avoid falling behind more agile competitors. Their exploration reflects a larger shift in banking norms driven by crypto adoption.
Bank of America stablecoin is in development, but regulation will define its future.
Across the Atlantic, stablecoin innovation is already moving faster. French banking group Societe Generale-FORGE introduced USD CoinVertible, a regulated dollar token native to Ethereum and Solana. It’s the firm’s second stablecoin, after launching a euro-pegged version in 2023. Backed by BNY Mellon and governed by the EU’s crypto rules, this token is ready for institutional deployment by July.
The US, meanwhile, may soon finalize its own legal framework. On June 11, the Senate advanced the GENIUS Act with a 68-30 vote. This bill would standardize payment stablecoin rules, requiring one-to-one backing with short-term Treasuries or insured deposits. If adopted, it could provide the clarity that Bank of America and others are waiting for.
The GENIUS Act also proposes clear oversight of non-bank issuers, something regulators and Democrats had requested before supporting the measure. It may remove uncertainty for all stablecoin stakeholders—from fintech startups to major institutions like Bank of America.
ANOTHER MUST-READ ON ICN.LIVE:
Trump and Crypto.com partnership sets stage for Made in America crypto ETFs
GENIUS Act could unlock Bank of America stablecoin and wider US adoption
Should the bill pass with Senator Bill Hagerty’s amendments, including more favorable redemption rules, the House might adopt the same language. That would speed up the process and encourage big banks to proceed with their digital dollar projects. Until then, Bank of America’s stablecoin remains on standby, watching the political winds shift.
With competition rising from European banks and the demand for 24/7 digital settlements increasing, US banks are under pressure. Stablecoins could redefine cross-border finance, and whoever adapts fastest could lead the next era of financial services.
