BofA CFO says legislative clarity paves way for development of stablecoin for clients

Bank of America's CFO highlights the need for regulatory certainty to move forward with stablecoin offerings, signaling openness to both solo and collaborative approaches.

Key Takeaways

• Bank of America's CFO stated that clear legislation is necessary for the bank to develop a stablecoin for clients.
• With legislative clarity, the bank could either create its own stablecoin or collaborate with industry partners.

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Bank of America’s chief financial officer said today that legislative clarity would enable the bank to develop a stablecoin for clients.

“Legislative clarity allows us to develop stablecoin for our clients, either on our own or working with the industry,” the CFO said.

The statement suggests the bank is considering both independent development and industry partnerships for potential stablecoin offerings.

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