According to Odaily, Bank of America Chairman and CEO Brian Moynihan has stated that the financial services industry is on the brink of entering a crypto economy. He highlighted that stablecoins, which are digital assets similar to Bitcoin but backed by the U.S. dollar, could function like money market funds with check access or bank accounts. Moynihan further indicated that this development might soon lead to the bank offering Bank of America tokens (BofA coins) linked to U.S. dollar deposit accounts.