Bank of America CEO: Developing their own stablecoin, Tether CEO provocatively says: It's time to settle the score.

Tether CEO Paolo Ardoino retweeted a news yesterday (11) night that Bank of America CEO Brian Moynihan claimed to be actively developing his own stablecoin, suggesting that Tether and Bank of America have cooperated in the stablecoin space? (Summary: Bank of America CEO: will launch a stablecoin linked to customer dollar deposits, wait for the regulatory bill to land) (Background supplement: Coinbase, Circle: . A number of giants intend to apply for a "US banking license", and the era of on-chain banking is coming? Yesterday (11th) evening, @WatcherGuru issued an article pointing out that Bank of America (BofA) CEO Brian Moynihan said that the bank is actively developing its own stablecoin. It is worth noting that Paolo Ardoino, CEO of Tether, the publisher of the world's largest stablecoin USDT, subsequently retweeted the news with a picture of the classic game "Fighting King" with the caption "Select your player". Due to the stablecoins issued by US banks, there will presumably have stricter regulatory restrictions, and institutions may also pressure early-stage projects such as USDT due to commercial competition, Ardoino's remarks seem to imply that stablecoins issued by Tether and the banking industry will become two competitive forces in the world, with a secret clamor. Select your player pic.twitter.com/TtQWh26MXH — Paolo Ardoino (@paoloardoino) June 11, 2025 Bank of America Announces Early Launch of Its Own Stablecoin In fact, back in February of this year, according to Fortune, Bank of America CEO Brian Moynihan made it clear in an interview that the U.S. financial services industry is about to enter the cryptocurrency economy and that "stablecoins will be an important part." He further mentioned that under the impetus of the Trump administration, US lawmakers are actively developing regulatory frameworks related to stablecoins, such as the GENIUS Act and the STABLE Act, which require stablecoin issuers to comply with anti-money laundering and reserve asset audit regulations. Once these regulations are officially implemented, Bank of America will plan to launch stablecoins pegged to users' dollar deposits. Brian Moynihan emphasized: "If the legislative work is successful, we will officially enter the industry with the introduction of a Bank of America stablecoin pegged to US dollar deposit accounts." It will be an interesting development. Trillions of dollars stablecoins will flood the market? Bank of America, as the second largest commercial bank in the United States, according to 2023 statistics, its share of the US deposit market is close to 11%, second only to JPMorgan Chase. The total deposit size of U.S. commercial banks is approximately $17.83 trillion, of which the total deposits of U.S. banks are estimated to exceed $1.9 trillion, covering the funds of individual customers, small and medium-sized enterprises and institutional customers. If some of these deposits are converted into on-chain stablecoins, even if only 1% of the assets enter the cryptocurrency market, it would mean tens of billions of dollars in new capital inflows. This capital could significantly push up the price of cryptocurrencies such as Bitcoin, injecting strong momentum into the market. Related reports South Korea submits "stablecoin bill" to allow domestic companies to issue and must have sufficient reserve assets Airwallex CEO opens "stablecoins are useless": cross-border fees are higher than legal currencies; Germany's largest "Deutsche Bank: is evaluating the issuance of stablecoins and RWA deposit tokenization applications [Bank of America CEO: is developing its own stablecoin, Tether CEO secretly choked: It's time to decide the winner" This article was first published in BlockTempo "Dynamic Trend - The Most Influential Blockchain News Media".