Bank of America CEO Brian Moynihan confirmed during the bank's Q2 2025 earnings call that the institution is actively exploring stablecoin adoption to enhance its payment infrastructure. The initiative aims to leverage blockchain technology for moving trillions of dollars in daily client transactions, with Moynihan emphasizing a focus on stablecoins as a "transactional device" for dollar and euro transfers.
This strategic move builds on Moynihan's May 2025 conference statements, where he indicated progress depended on supportive legislation. Bank of America has reportedly considered joint stablecoin issuance with banking giants like JPMorgan and Citigroup. The exploration occurs amid a surging stablecoin market, where total circulation has reached $257 billion – nearly doubling since early 2023 – with Tether (USDT) and Circle (USDC) dominating over 85% of the market.
The bank's Q2 results showed $7.12 billion net income (up 3% YoY) and $26.61 billion revenue (up 4% but slightly below expectations). Regulatory developments remain pivotal, with the bipartisan GENIUS Act – intended to establish stablecoin frameworks – having passed the Senate but facing procedural delays in the House.