Jul 21, 2025 09:43

• Bank of America announced the start of the implementation of stablecoins.
• The bank's CEO said that BofA clients are ready to transfer billions through stablecoins.
• In the second quarter, the financial institution’s net profit amounted to $7.12 billion.

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Bank of America (BofA) is in the early stages of adopting stablecoins as a tool to optimize its payments infrastructure, CEO Brian Moynihan said during his Q2 2025 earnings call .

" Right now we're focusing on stablecoins as a transactional tool , " Moynihan said .

He added that BofA is working on integrating stablecoins that move US dollars and euros .

The bank's goal is to create blockchain-based payment rails capable of servicing the trillions of dollars of client assets that flow through its systems every day.

“ If clients want to use stablecoins to transfer part of these funds , they will do so , ” the CEO emphasized.

Since February 2025, BofA has been actively exploring the possibility of using stablecoins, and at a conference in May, Moynihan said the bank would be ready to implement them if the relevant legislation is passed.

Recall that the media also reported that BofA is considering the possibility of issuing its own stablecoin in cooperation with other financial giants, in particular JPMorgan and Citigroup.

" We've done a lot of work already. We're trying to get a sense of scale right now — because some of the payment segments are quite small. But overall, expect us to move in that direction , " Moynihan said.

In addition, in the second quarter, the financial institution's net profit grew by 3% to $7.12 billion, exceeding analysts' expectations. At the same time, revenue rose by 4% to $26.61 billion, which is slightly below the forecast values.

According to DeFiLllama at the time of writing, as of mid-2025, the total capitalization of stablecoins reached almost $260 billion, which is almost double what it was at the beginning of 2023. Two giants - Tether (USDT) and Circle (USDC) - together account for more than 85% of the market.

Amid the rapid growth of the market, the administration of US President Donald Trump has made regulation of stablecoins a priority, pushing through the GENIUS Act.

Thus, the bill received bipartisan support in the Senate Banking Committee and passed a successful vote in the Senate in June.

It also passed the House after a group of lawmakers blocked a procedural vote.