Bank of America plans to launch a stablecoin pegged to the US dollar after receiving approval from US lawmakers. The bank's CEO, Brian Moynihan, stated that stablecoins could become an important tool similar to traditional financial products. The new stablecoin will be fully backed by dollars and linked to deposit accounts, which will ensure easy conversion. The bank expects that legislative changes in the US will allow the project to go to market in the near future, which will intensify competition with players like Circle and Tether.
2/27/2025 7:28:28 AM (GMT+1)
Bank of America is preparing to launch a stablecoin pegged to the US dollar, awaiting legislative approval, and competing with major players in the cryptocurrency market
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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