According to online reports, Bank of America CEO Brian Moynihan said that the financial services industry is about to enter the crypto economy and stablecoin business will come soon. Moynihan said in an interview with David Rubenstein on Tuesday that stablecoins are digital assets similar to Bitcoin, but backed by U.S. dollars, equivalent to a money market fund or bank account with check access. Moynihan said this means Bank of America may soon offer BofA tokens linked to U.S. dollar deposit accounts. Under Trump's pro-cryptocurrency administration, lawmakers are seeking to pass stablecoin legislation.