On July 17 (UTC+8), Bank of America CEO Brian Moynihan stated that the bank is preparing to launch a stablecoin. Investors can expect Bank of America to take action in the cryptocurrency space, but Brian Moynihan did not provide a specific timeline. Moynihan said that as the second-largest bank in the United States, Bank of America believes that both the industry and itself will take action. "We've done a lot of work, and we're still trying to figure out the size of stablecoins, because the scale of capital flows in some areas is not large." Bank of America is trying to understand customer needs and will launch a stablecoin at the appropriate time, possibly in cooperation with other institutions. The bank is still waiting for legal clarity, which is why progress is slower than some investors expected. Morgan Stanley CFO Sharon Yeshaya also said today that they are closely monitoring the development of stablecoins. "We are looking at the market and the potential uses of stablecoins for our customer base, but it is still too early." (Source: Bitpush) [MetaEra]