Bank of America, PayPal, Standard Chartered, Stripe, and Revolut Eye Stablecoin Adoption Amid Regulatory Shift

Global banks and fintech companies are increasingly developing stablecoins to facilitate cross-border payments, driven by the growing adoption and favorable regulatory environment. This trend is part of a broader shift in the financial industry, as traditional institutions seek to capitalize on the potential of digital assets.

Several major financial institutions, including Bank of America, PayPal, Standard Chartered, Stripe, and Revolut, have expressed interest in adopting stablecoins. Bank of America, for instance, is considering launching its own stable asset upon receiving regulatory approval. CEO Brian Moynihan has stated that the bank will enter the stablecoin business if it becomes legal. Similarly, Standard Chartered is developing a Hong Kong dollar-backed token, aligning with new regulatory policies in the region. PayPal, meanwhile, plans to expand its stablecoin payment option, PYUSD, in 2025, anticipating significant adoption among US businesses making international supplier payments.

The regulatory recognition of stablecoins as legitimate financial instruments has boosted enthusiasm among financial institutions. This shift, driven by President Donald Trump’s pro-crypto stance, has influenced banks and fintechs to leverage the capabilities of these assets. The favorable regulatory environment and growing adoption of stablecoins add momentum to the development of these digital assets.

In a recent development, the US Department of Housing and Urban Development is planning to integrate blockchain technology and adopt stablecoins. The department is considering blockchain-based solutions for grant tracking and stablecoin payments, with pilot testing proposed for one of its offices. This experiment signals the adoption of crypto and blockchain across the federal government, underscoring the progressive stance on digital assets.

President Donald Trump’s crypto-focused policies have generated significant optimism, marking a substantial shift in the US government’s stance on digital assets. The administration is introducing new policies aimed at establishing stablecoins and integrating digital assets into the country’s financial ecosystem. Trump’s plans to adopt Bitcoin, XRP, SOL, and ADA as US crypto reserve assets, along with an executive order establishing a Strategic Bitcoin Reserve, signal a commitment to fostering innovation, investment, and integration into the traditional financial system. These developments aim to position the United States as a leader in the global digital asset economy.