# Bank of America Is Prepping Stablecoin Plan

*Author: Bankless*
*Published: Jul 16, 2025*
*Source: https://www.bankless.com/read/bank-of-america-is-prepping-stablecoin-plan*

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Bank of America CEO Brian Moynihan confirmed the bank is actively developing stablecoin infrastructure and plans to launch a fully backed digital dollar once Congress clears the legal path.

### What’s the Scoop?
- **Work underway:** Moynihan said BofA “has done a lot of work” on stablecoin development during the Q2 earnings call, and is ready to deploy once regulatory clarity arrives.
- **Legislative trigger:** The launch hinges on U.S. stablecoin bills like the GENIUS Act and related crypto legislation currently moving through Congress.
- **Strategic partner model:** The bank expects to introduce the stablecoin via partnerships rather than solo—waiting until client demand justifies rollout.
- **Peer bank momentum:** JPMorgan Chase and Citigroup are already piloting their own stablecoin-like solutions, highlighting rising institutional momentum.
- **Use-case potential:** Moynihan likens a BofA stablecoin to bank accounts or US money market funds—suggesting faster, cheaper, regulated transfers and dollar synergy.
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