In a conversation with David Rubenstein, Brian Moynihan acknowledged the growing impact of stablecoins in the financial sector, likening them to money market funds or traditional bank accounts.
He noted that as the financial landscape shifts, institutions such as Bank of America may need to embrace new digital financial instruments.
Moynihan hinted that the bank’s involvement in stablecoins largely depends on regulatory clarity. He mentioned that if the Trump administration passes legislation to legitimize stablecoins, Bank of America would be ready to introduce its own.
He emphasized that the financial industry is experiencing a transition where digital assets could become more integrated into banking operations.
