Bank of America to release stable coin

In a recent statement, the CEO of Bank of America said their bank is exploring releasing a stable coin. However, there is no set timeline, citing low client demand and ongoing assessments of scale and potential partnerships. Morgan Stanley is closely monitoring developments, while Citigroup and JPMorgan have also indicated interest in stablecoin initiatives.

Major U.S. banks are quietly ramping up stablecoin initiatives to shore up their relevance as institutional rails go digital. Bank of America, JP Morgan, and Citi Bank, are all building or exploring tokens for payments, settlements, and custody, eyeing both efficiency and market share as fintechs eat their lunch.

Looks like big banks are finally waking up to stablecoins but still dragging their feet. Classic financial institutions being late to the party while cryptocurrency keeps moving forward. They’ll join eventually when they see everyone else making money.

Traditional giants circling stablecoins means the infrastructure shift is real, they’re just waiting for clearer regs and real demand.

Regulatory clarity and the prospect of new revenue from tokenized deposits are pushing these banks closer to launching compliance-first stablecoins. The big unlock? Consortium moves, which could set standards and ensure safety as volumes surge.

This isn’t just a bank play—Web3 stands to gain new liquidity, faster on-chain settlements, and more real-world assets on Ethereum and beyond.