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Bank of America Plans to Launch Stablecoin, Awaits Right Timing
Summary: In breaking news, according to Reuters, Bank of America CEO Brian Moynihan has stated that the bank is preparing to launch a stablecoin, with investors anticipating action from Bank of America in the cryptocurrency field. However, Moynihan did not provide a specific timeline. Moynihan mentioned that as the second largest bank in the United States, ...
In breaking news, according to Reuters, Bank of America CEO Brian Moynihan has stated that the bank is preparing to launch a stablecoin, with investors anticipating action from Bank of America in the cryptocurrency field. However, Moynihan did not provide a specific timeline.
Moynihan mentioned that as the second largest bank in the United States, Bank of America believes that both the industry and itself will take action. The bank has done a lot of work and is still trying to determine the scale of the stablecoin, as the scale of fund flows in certain areas is not large. Bank of America is trying to understand customer demand and will launch the stablecoin at the right time, possibly in collaboration with other institutions. The bank is still waiting for legal clarity, which is also why progress is slower than some investors expected.
Today, Morgan Stanley CFO Sharon Yeshaya also stated that they are closely monitoring the development of stablecoins. We are examining the market and the potential uses of stablecoins for our customer base, but it is still early days.
