Bank of America predicts banks’ onchain transition in coming years
PositiveCryptocurrency
- Bank of America has forecasted that U.S. banks will begin integrating stablecoins and tokenized deposits by 2027, as the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) establish new regulations to facilitate this transition.
- This development is significant for Bank of America as it positions the institution at the forefront of the evolving banking landscape, allowing it to leverage new financial technologies and potentially enhance its service offerings to clients.
- The anticipated shift towards on-chain banking reflects a broader trend of regulatory acceptance of cryptocurrencies, as U.S. banks are increasingly authorized to conduct riskless principal transactions and hold crypto assets, indicating a growing integration of digital currencies into traditional finance.
— via World Pulse Now AI Editorial System
