Gate news bot news, Bank of America (BoA) is exploring stablecoins to leverage blockchain technology to improve its payment infrastructure. During the second quarter earnings call, CEO Brian Moynihan stated that the bank is focused on using stablecoins as a means of transaction, aiming to transfer trillions of dollars in customer assets daily. Bank of America has considered collaborating with other major banks such as JPMorgan Chase and Citigroup to jointly issue stablecoins and advance under supportive regulatory conditions.

The CEO of a US bank said that if the regulation is appropriate, the banking system will adopt encryption payments, adding that the bank already owns hundreds of Blockchain patents. The financial industry hopes that regulators will provide clearer signals for further action.