Bank of America (BofA) is actively implementing stablecoins to optimize the process of daily transactions, which could significantly change the bank’s payment infrastructure. BofA’s management emphasizes the importance of this step for the future of financial services and customer support.
This is reported by Business • Media
Focus on Blockchain and Innovations in the Payment System
During the announcement of the financial results for the second quarter of 2025, CEO Brian Moynihan noted that BofA is in the early stages of implementing stablecoins as a key tool for transactions. The bank is working on integrating stablecoins that will allow the transfer of US dollars and euros, as well as creating payment rails based on blockchain technologies to service significant volumes of customer assets.
“Currently, we are focusing on stablecoins as a transactional tool,” Moynihan stated.
According to the CEO, BofA’s customers are already ready to use stablecoins for transferring significant amounts, and the bank aims to provide the necessary infrastructure. Since February 2025, the financial institution has been actively exploring the possibilities of using stablecoins, and at the May conference, management indicated that the bank would be ready for full implementation, provided the appropriate legislative framework is adopted.
Financial Results and Market Growth
In the second quarter of 2025, Bank of America’s net income rose by 3%, reaching $7.12 billion, exceeding analysts’ expectations. The bank’s revenues also increased by 4% to $26.61 billion, although this is slightly below forecasted figures.
Media reports previously indicated that BofA is considering issuing its own stablecoin in partnership with major financial players, including JPMorgan and Citigroup. The bank’s management emphasizes that a significant portion of the preparatory work has already been completed, and further development depends on the market scale and segments that can benefit from new payment solutions.
As of mid-2025, analysts report that the total capitalization of stablecoins has reached nearly $260 billion, nearly double the figures from early 2023. The main players remain Tether (USDT) and Circle (USDC), which together control over 85% of the stablecoin market.
In light of the rapid market growth, the administration of former US President Donald Trump identified the regulation of stablecoins as one of its key priorities. In 2025, the GENIUS Act was developed, which received bipartisan support in the Senate Banking Committee and passed votes in both the Senate and the House of Representatives.