TechFlow reports that on February 26, according to Fortune, Bank of America CEO Brian Moynihan said the financial services industry is about to enter the crypto economy, and stablecoin business is coming soon. Stablecoins are digital assets similar to Bitcoin but backed by the U.S. dollar, equivalent to money market funds or bank accounts with check-writing access. Moynihan said this means Bank of America could soon offer BofA tokens linked to U.S. dollar deposit accounts.
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