TL;DR
- Bank of America confirmed it is working on its own stablecoin but hasn’t set a launch date or disclosed any partners or technologies.
- The bank is evaluating real client demand and whether transaction volume justifies the launch, as usage remains marginal in some areas.
- Morgan Stanley is also exploring a potential stablecoin but considers it too early to define its integration.
Bank of America has confirmed it is developing its own stablecoin, although it has yet to set a launch date.
CEO Brian Moynihan stated that the bank has been working on this initiative for some time, as part of an adjustment process shared across the financial sector. The company is still assessing the market scale and potential impact of such an asset, since in certain areas, digital money operations remain too limited to warrant immediate deployment.
The bank is also analyzing customer demand, which remains low for now. Moynihan said a stablecoin would only launch once conditions are appropriate. In that case, the product would likely be developed in partnership with other companies, though no details were provided regarding potential partners or technologies.
Sooner or Later, Everyone Wants a Stablecoin
Stablecoins, being pegged one-to-one to fiat currencies like the U.S. dollar, serve as a key transfer mechanism within the crypto ecosystem. They are mainly used to move between tokens, hedge against volatility, and improve operational efficiency on trading platforms. That’s why traditional banks have begun exploring concrete applications of stablecoins for their own business lines, though their approach remains cautious.
Morgan Stanley Awaits Regulatory Clarity
Morgan Stanley also acknowledged it is reviewing the implications of issuing its own stablecoin. CFO Sharon Yeshaya confirmed the bank is closely following the development of these technologies but said it is still too early to determine how they could fit into its current service offerings. According to her, the decision will depend on regulatory developments, real-world use cases, and how useful such an asset would be for their existing clients.
The possibility of major banks issuing stablecoins is emerging alongside a political shift in the U.S. that favors crypto adoption. President Donald Trump has openly positioned himself as pro-crypto and has pledged to support its widespread use across the country
