Clear regulations offer support! American banks reveal they are developing their own dollar stablecoin: We must be ready.

As the U.S. encryption regulatory bill accelerates, the second-largest commercial bank in the U.S., Bank of America, BoA(, recently confirmed that it is developing its own dollar stablecoin. With financial giants joining the fray, stablecoins and payment startups face competition from TradFi, which may bring a significant transformation to the global financial landscape.

The CEO of the American bank confirmed: We must be prepared.

Bank of America CEO Brian Moynihan publicly stated yesterday that the bank is developing a dollar-pegged stablecoin in collaboration with other industry participants, further confirming several rumors that have circulated in the market over the past few months.

) optimistic about regulatory clarity! US banks consider entering the stablecoin market, with international trade and cross-border payments as key focuses (

Although Moynihan admitted that the current market demand for such products is still unclear, he emphasized: "We must be prepared."

If the U.S. government can clearly establish a regulatory framework in the future, this stablecoin project will further advance and be made public.

This move reflects that large financial institutions, although not in a hurry to rush in, have already initiated their long-term layout for encryption currency infrastructure.

Regulatory Assist: The GENIUS Act May Become the Biggest Driving Force

The statement from Bank of America coincides perfectly with the progress of the genius bill "GENIUS Act ) Stablecoin National Innovation Guidance Act (" being promoted by Congress.

The bill passed the motion to terminate discussion on the same day with a vote of 68 to 30, officially entering the final voting procedure. If passed, the GENIUS Act will establish a unified set of regulations for "Payment Stablecoins )Payment Stablecoins(," including requirements for 1:1 reserve backing, segregation of operating and reserve funds, and more.

)The U.S. "GENIUS Act" comprehensively regulates payment-type stablecoins: understand the issuance thresholds, reserve standards, and regulatory system all at once (

If the Senate successfully passes the amendment, the House of Representatives is expected to vote directly on this version, accelerating the legislative process, which will provide a clear and compliant path for the banking industry, including Bank of America, to implement stablecoins.

Europe takes the lead: Société Générale launches its second stablecoin

At the same time, French financial giant Societe Generale's digital asset subsidiary SG-FORGE has also launched its second stablecoin product "EUR CoinVertible )USD(" a few days ago, as an extension of the euro version, deployed on Ethereum and also circulable on Solana.

As a stablecoin operating fully under the EU encryption market regulations )MiCA( framework, the CEO of SG-FORGE stated: "The demand from corporate users for 24-hour settlement has surged, and the US dollar stablecoin has naturally become the next step."

)French Société Générale issues a dollar-pegged stablecoin! A traditional European bank enters the new battlefield of blockchain(

The product is expected to launch in July, supporting round-the-clock conversion between US dollars, euros, and stablecoins.

Stablecoin New Game: TradFi Joins the Battle

In the past year, stablecoins have mostly been dominated by startups or crypto-native teams, from Circle to Tether, but now the situation is gradually changing. The involvement of Bank of America symbolizes that TradFi is no longer just observing, but is personally entering the competition.

)TradFi integration with blockchain makes encryption pale in comparison: What has Cypherpunk left behind after moving to the margins? (

In addition, there have been rumors in the market that Bank of America may collaborate with JPMorgan to issue a coin, but there have not yet been any concrete results from the cooperation.

With the GENIUS Act expected to accelerate its implementation and the simultaneous advancement in the US and Europe, stablecoin, a key infrastructure, is becoming a strategic high ground in the new global financial order.

This article Regulatory clarity assists! American banks are reportedly developing their own dollar stablecoin: We must be ready. First appeared in Chain News ABMedia.