Bank of America CEO announced the institution is developing its own stablecoin while pursuing industry-wide collaboration initiatives, according to a Reuters (RTRS) report.
The bank is independently creating a proprietary stablecoin solution as part of its digital asset strategy.
Simultaneously, Bank of America is engaging in cooperative efforts with financial and technology sector partners to advance stablecoin adoption frameworks.
This dual approach positions the banking giant at the forefront of institutional involvement in blockchain-based currency solutions.