BoA exploring stablecoins to help move trillions in client transactions, CEO says

Key Points

1. Bank of America is in the early stages of developing stablecoin-based payment infrastructure to facilitate trillions in client asset transactions.

2. CEO Brian Moynihan mentioned that stablecoins could be used as a transactional device, though the bank is still assessing the scale of adoption.

3. BoA has been actively exploring stablecoin use since early 2025 and may collaborate with other banking giants like JPMorgan.

4. The stablecoin market has surged to $257 billion in circulation, with Tether’s USDt and Circle’s USDC accounting for over 85% of the market.

5. BoA reported mixed Q2 financial results, with net income rising 3% to $7.12 billion, exceeding forecasts, while revenue grew 4% to $26.61 billion, slightly below expectations.