Some big US banks plan to launch stablecoins, expecting crypto-friendly regulations

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Some large U.S. lenders, including Bank of America and Citibank, are working on launching stablecoins at a time when the country is looking to adopt more crypto-friendly regulations.

BofA CEO Brian Moynihan said on Wednesday the bank is working on launching a stablecoin, and investors can expect the lender to move forward with it, without giving a timeline.

Stablecoins, a type of cryptocurrency designed to maintain a constant value, are usually pegged to a fiat currency such as the U.S. dollar and are commonly used by crypto traders to move funds…



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Some big US banks plan to launch stablecoins, expecting crypto-friendly regulations



Some large U.S. lenders, including Bank of America and Citibank, are working on launching stablecoins at a time when the country is looking to adopt more crypto-friendly regulations.

BofA CEO Brian Moynihan said on Wednesday the bank is working on launching a stablecoin, and investors can expect the lender to move forward with it, without giving a timeline.

Stablecoins, a type of cryptocurrency designed to maintain a constant value, are usually pegged to a fiat currency such as the U.S. dollar and are commonly used by crypto traders to move funds…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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