BAC · News · 20260904N
Stablecoin Payments Expansion
BANK OF AMERICA CORP /DE/ · 2026-09-04 · Importance 31 · Surprise 42 · In source text
Bank of America is part of a 21-institution consortium planning to form a company and launch a U.S.-dollar stablecoin in the first half of 2027. The reserve-backed digital settlement instrument is intended for cross-border payments and could later expand to euro-denominated and other G7-currency versions. The initiative positions BofA alongside Goldman Sachs, Citi and other global banks in competing with established stablecoin providers such as Tether and Circle.
Key facts
- The consortium plans to establish a company in 2026 and initially introduce a dollar-backed token with potential expansion to euro-denominated and other G7 currencies. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | contingent | — | The consortium plans to establish a company in 2026 and initially introduce a dollar-backed token with potential expansion to… |