{"id":489922,"date":"2025-07-16T21:00:11","date_gmt":"2025-07-16T20:00:11","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=489922"},"modified":"2025-07-16T23:53:23","modified_gmt":"2025-07-16T22:53:23","slug":"bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/","title":{"rendered":"BofA CEO confirms bank is exploring stablecoins for potential payment revolution"},"content":{"rendered":"

Bank of America is taking early steps to explore stablecoins as a way to modernize its payment systems and handle trillions of dollars in client transactions more efficiently, the lender's CEO, Brian Moynihan, said during the bank\u2019s second-quarter earnings call<\/a> on July 15.<\/p>\n

Moynihan emphasized that the firm\u2019s current focus is on using stablecoins \u201cas a transactional device,\u201d noting their potential to streamline how money moves through the bank\u2019s infrastructure each day.<\/p>\n

He added that the bank has already done substantial groundwork<\/a> and is evaluating how scalable the opportunity may be across various transaction types.<\/p>\n

While the size of the stablecoin market remains relatively small compared to traditional banking flows, Moynihan signaled that broader adoption may come as regulatory clarity improves.<\/p>\n

The bank has been assessing the space since early 2025 and has reportedly discussed the potential joint issuance of a stablecoin<\/a> with other major U.S. institutions, including JPMorgan<\/a> and Citigroup<\/a>.<\/p>\n

Stablecoin growth outpaces traditional networks<\/h2>\n

The announcement comes amid a broader shift in legacy finance toward stablecoin-backed payment rails. In 2024, stablecoin transaction volumes surpassed the combined totals<\/a> of Visa<\/a> and Mastercard<\/a>.<\/p>\n

Since then, the value of stablecoins in circulation has surged to $257 billion, nearly double the level from early 2023. Tether\u2019s USDT and Circle\u2019s USDC now make up over 85% of that total.<\/p>\n

US lawmakers have responded to the sector\u2019s rapid rise by pushing for a clearer regulatory framework. The GENIUS Act, the centerpiece of the current administration's digital asset agenda, passed the Senate in June with bipartisan support.<\/p>\n

However, the bill stalled in the House this week after lawmakers blocked a procedural vote<\/a>. A floor vote is expected by July 17.<\/p>\n

As major institutions increasingly turn to blockchain-based rails, Bank of America\u2019s cautious but active approach signals that Wall Street\u2019s largest players may be preparing to make stablecoins a cornerstone of future settlement systems.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bank of America is taking early steps to explore stablecoins as a way to modernize its payment systems and handle trillions of dollars in client transactions more efficiently, the lender’s CEO, Brian Moynihan, said during the bank\u2019s second-quarter earnings call on July 15. Moynihan emphasized that the firm\u2019s current focus is on using stablecoins \u201cas […]<\/p>\n","protected":false},"author":1250,"featured_media":489944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,76747,1,77968,32631],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nBofA CEO confirms bank is exploring stablecoins for potential payment revolution<\/title>\n<meta name=\"description\" content=\"CEO Brian Moynihan sees stablecoins as a transformational tool for Bank of America's payment system evolution.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BofA CEO confirms bank is exploring stablecoins for potential payment revolution\" \/>\n<meta property=\"og:description\" content=\"CEO Brian Moynihan sees stablecoins as a transformational tool for Bank of America's payment system evolution.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-16T20:00:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-16T22:53:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/07\/boa-stablecoins.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Assad Jafri\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Assad Jafri\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/\"},\"author\":{\"name\":\"Assad Jafri\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/3db28ca07ba41170a9d49a2e887d4882\"},\"headline\":\"BofA CEO confirms bank is exploring stablecoins for potential payment revolution\",\"datePublished\":\"2025-07-16T20:00:11+00:00\",\"dateModified\":\"2025-07-16T22:53:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/\"},\"wordCount\":323,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"articleSection\":[\"Adoption\",\"Banking\",\"Crypto\",\"Featured\",\"Stablecoins\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/#respond\"]}],\"copyrightYear\":\"2025\",\"copyrightHolder\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/\",\"url\":\"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/\",\"name\":\"BofA CEO confirms bank is exploring stablecoins for potential payment revolution\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/#website\"},\"datePublished\":\"2025-07-16T20:00:11+00:00\",\"dateModified\":\"2025-07-16T22:53:23+00:00\",\"description\":\"CEO Brian Moynihan sees stablecoins as a transformational tool for Bank of America's payment system evolution.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptoslate.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BofA CEO confirms bank is exploring stablecoins for potential payment revolution\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptoslate.com\/#website\",\"url\":\"https:\/\/cryptoslate.com\/\",\"name\":\"CryptoSlate\",\"description\":\"Cryptocurrency News and Real-time Coin Data\",\"publisher\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":[\"Organization\",\"NewsMediaOrganization\"],\"@id\":\"https:\/\/cryptoslate.com\/#organization\",\"name\":\"CryptoSlate\",\"url\":\"https:\/\/cryptoslate.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg\",\"width\":1000,\"height\":1000,\"caption\":\"CryptoSlate\"},\"image\":{\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/twitter.com\/cryptoslate\",\"https:\/\/www.instagram.com\/cryptoslate\",\"https:\/\/www.linkedin.com\/company\/cryptoslate\",\"https:\/\/www.youtube.com\/c\/cryptoslate\",\"https:\/\/cryptoslate.substack.com\",\"https:\/\/t.me\/cryptoslatenews\",\"https:\/\/www.tiktok.com\/@cryptoslatenews\"],\"publishingPrinciples\":\"https:\/\/cryptoslate.com\/editorial-policy\/#editorial-principles\",\"ownershipFundingInfo\":\"https:\/\/cryptoslate.com\/disclaimers\/how-cryptoslate-makes-and-spends-money\/\",\"actionableFeedbackPolicy\":\"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback\",\"correctionsPolicy\":\"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback\",\"ethicsPolicy\":\"https:\/\/cryptoslate.com\/editorial-policy\/#editorial-principles\",\"foundingDate\":\"2017-08-04\",\"founder\":[{\"@type\":\"Person\",\"name\":\"Nate Whitehill\"},{\"@type\":\"Person\",\"name\":\"Matthew Blancarte\"}],\"contactPoint\":[{\"@type\":\"ContactPoint\",\"contactType\":\"customer support\",\"url\":\"https:\/\/cryptoslate.com\/contact\/\",\"availableLanguage\":\"en-US\"},{\"@type\":\"ContactPoint\",\"contactType\":\"sales\",\"url\":\"https:\/\/cryptoslate.com\/advertising\/\",\"availableLanguage\":\"en-US\"},{\"@type\":\"ContactPoint\",\"contactType\":\"newsroom\",\"url\":\"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback\",\"email\":\"tips@cryptoslate.com\",\"availableLanguage\":\"en-US\"}],\"masthead\":\"https:\/\/cryptoslate.com\/about\/#masthead\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/3db28ca07ba41170a9d49a2e887d4882\",\"name\":\"Assad Jafri\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/cs-syed-150x150.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/cs-syed-150x150.jpg\",\"caption\":\"Assad Jafri\"},\"description\":\"AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.\",\"url\":\"https:\/\/cryptoslate.com\/author\/assad-jafri\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"BofA CEO confirms bank is exploring stablecoins for potential payment revolution","description":"CEO Brian Moynihan sees stablecoins as a transformational tool for Bank of America's payment system evolution.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/","og_locale":"en_US","og_type":"article","og_title":"BofA CEO confirms bank is exploring stablecoins for potential payment revolution","og_description":"CEO Brian Moynihan sees stablecoins as a transformational tool for Bank of America's payment system evolution.","og_url":"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/","og_site_name":"CryptoSlate","article_published_time":"2025-07-16T20:00:11+00:00","article_modified_time":"2025-07-16T22:53:23+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/07\/boa-stablecoins.jpg","type":"image\/jpeg"}],"author":"Assad Jafri","twitter_card":"summary_large_image","twitter_creator":"@cryptoslate","twitter_site":"@cryptoslate","twitter_misc":{"Written by":"Assad Jafri","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/#article","isPartOf":{"@id":"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/"},"author":{"name":"Assad Jafri","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/3db28ca07ba41170a9d49a2e887d4882"},"headline":"BofA CEO confirms bank is exploring stablecoins for potential payment revolution","datePublished":"2025-07-16T20:00:11+00:00","dateModified":"2025-07-16T22:53:23+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/"},"wordCount":323,"commentCount":0,"publisher":{"@id":"https:\/\/cryptoslate.com\/#organization"},"articleSection":["Adoption","Banking","Crypto","Featured","Stablecoins"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/#respond"]}],"copyrightYear":"2025","copyrightHolder":{"@id":"https:\/\/cryptoslate.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/","url":"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/","name":"BofA CEO confirms bank is exploring stablecoins for potential payment revolution","isPartOf":{"@id":"https:\/\/cryptoslate.com\/#website"},"datePublished":"2025-07-16T20:00:11+00:00","dateModified":"2025-07-16T22:53:23+00:00","description":"CEO Brian Moynihan sees stablecoins as a transformational tool for Bank of America's payment system evolution.","breadcrumb":{"@id":"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/cryptoslate.com\/bofa-ceo-confirms-bank-is-exploring-stablecoins-for-potential-payment-revolution\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptoslate.com\/"},{"@type":"ListItem","position":2,"name":"BofA CEO confirms bank is exploring stablecoins for potential payment revolution"}]},{"@type":"WebSite","@id":"https:\/\/cryptoslate.com\/#website","url":"https:\/\/cryptoslate.com\/","name":"CryptoSlate","description":"Cryptocurrency News and Real-time Coin Data","publisher":{"@id":"https:\/\/cryptoslate.com\/#organization"},"inLanguage":"en-US"},{"@type":["Organization","NewsMediaOrganization"],"@id":"https:\/\/cryptoslate.com\/#organization","name":"CryptoSlate","url":"https:\/\/cryptoslate.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg","width":1000,"height":1000,"caption":"CryptoSlate"},"image":{"@id":"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/twitter.com\/cryptoslate","https:\/\/www.instagram.com\/cryptoslate","https:\/\/www.linkedin.com\/company\/cryptoslate","https:\/\/www.youtube.com\/c\/cryptoslate","https:\/\/cryptoslate.substack.com","https:\/\/t.me\/cryptoslatenews","https:\/\/www.tiktok.com\/@cryptoslatenews"],"publishingPrinciples":"https:\/\/cryptoslate.com\/editorial-policy\/#editorial-principles","ownershipFundingInfo":"https:\/\/cryptoslate.com\/disclaimers\/how-cryptoslate-makes-and-spends-money\/","actionableFeedbackPolicy":"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback","correctionsPolicy":"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback","ethicsPolicy":"https:\/\/cryptoslate.com\/editorial-policy\/#editorial-principles","foundingDate":"2017-08-04","founder":[{"@type":"Person","name":"Nate Whitehill"},{"@type":"Person","name":"Matthew Blancarte"}],"contactPoint":[{"@type":"ContactPoint","contactType":"customer support","url":"https:\/\/cryptoslate.com\/contact\/","availableLanguage":"en-US"},{"@type":"ContactPoint","contactType":"sales","url":"https:\/\/cryptoslate.com\/advertising\/","availableLanguage":"en-US"},{"@type":"ContactPoint","contactType":"newsroom","url":"https:\/\/cryptoslate.com\/editorial-policy\/#corrections-feedback","email":"tips@cryptoslate.com","availableLanguage":"en-US"}],"masthead":"https:\/\/cryptoslate.com\/about\/#masthead"},{"@type":"Person","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/3db28ca07ba41170a9d49a2e887d4882","name":"Assad Jafri","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/image\/","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/cs-syed-150x150.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/cs-syed-150x150.jpg","caption":"Assad Jafri"},"description":"AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.","url":"https:\/\/cryptoslate.com\/author\/assad-jafri\/"}]}},"_links":{"self":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/489922"}],"collection":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/users\/1250"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/comments?post=489922"}],"version-history":[{"count":2,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/489922\/revisions"}],"predecessor-version":[{"id":489932,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/489922\/revisions\/489932"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media\/489944"}],"wp:attachment":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media?parent=489922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/categories?post=489922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/tags?post=489922"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/post_folder?post=489922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}