Bank of America has initiated an early stage of using stablecoins to enhance payment infrastructure and optimize customer transactions. This was announced by the bank’s CEO, Brian Moynihan, during the second quarter 2025 earnings report.
This is reported by Finway
Integration of Stablecoins and the Bank’s Ambitions
“Currently, we are focusing on stablecoins as a transactional tool,” Moynihan stated.
According to the bank’s leader, Bank of America is working on integrating stablecoins that allow for the movement of assets in US dollars and euros. The main goal is to create blockchain-based payment rails that can handle the vast volumes of customer funds that flow through the institution’s systems daily.
Moynihan emphasized that the bank’s clients are ready to use stablecoins to transfer a significant portion of their assets if such an option becomes available. Since February 2025, BofA has been actively exploring the implementation of stablecoins, and at the May conference, the bank’s head noted that the organization is prepared to adopt the new technology pending the enactment of appropriate legislation.
The Stablecoin Market and BofA’s Financial Performance
It is known that Bank of America is considering the option of issuing its own stablecoin in collaboration with financial giants such as JPMorgan and Citigroup. Moynihan highlighted that the bank has already completed significant preparatory work and is examining the scale of implementation, taking into account the varying sizes of payment segments.
In the second quarter of 2025, BofA’s net income rose by 3% to reach $7.12 billion, exceeding analysts’ expectations. The institution’s total revenue increased by 4% to $26.61 billion, although this is slightly below the projected level.
As of mid-2025, according to DeFiLlama data, the market capitalization of stablecoins approached $260 billion—almost double what it was at the beginning of 2023. The largest market share is consistently held by Tether (USDT) and Circle (USDC), collectively controlling over 85% of the segment.
Amid the market growth, the administration of US President Donald Trump identified the regulation of stablecoins as one of its priorities, promoting the GENIUS Act bill. The document received bipartisan support in the Senate Banking Committee and was successfully passed by the Senate in June. It was also approved by the House of Representatives after overcoming procedural hurdles.