• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Bank of America CEO says financial industry will jump into crypto payments if regulators allow it
Editor's Pick

Bank of America CEO says financial industry will jump into crypto payments if regulators allow it

by January 22, 2025
by January 22, 2025 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Bank of America CEO Brian Moynihan said Tuesday that the U.S. banking industry will embrace cryptocurrencies for payments if regulators allow it.

The head of the second largest U.S. bank by assets was asked by CNBC’s Andrew Ross Sorkin about how the industry’s approach to crypto could change given President Donald Trump’s enthusiasm for digital currencies.

“If the rules come in and make it a real thing that you can actually do business with, you’ll find that the banking system will come in hard on the transactional side of it,” Moynihan said in an interview at the World Economic Forum in Davos, Switzerland.

American banks have largely avoided letting customers use crypto for retail transactions, although their institutional trading and wealth management arms have participated in markets for bitcoin ETFs. Leaders in the industry, including JPMorgan Chase CEO Jamie Dimon, have lambasted bitcoin as a currency for criminals and fraudsters.

“If you go down the street here and you go in and buy lunch, right, if you can pay with Visa, Mastercard, a debit card, Apple Pay, etc, this would just be another form of payment,” Moynihan explained. “We have hundreds of patents on blockchain already, we know how to enter the field.”

The veteran Bank of America CEO didn’t address the idea of cryptocurrencies like bitcoin as an investment or store of value, saying it is “really a separate question.”

This post appeared first on NBC NEWS
You Might Also Like
  • WeWork, once valued at $40 billion, warns of possible bankruptcy as it submits ‘going concern’ notice
  • Fox streaming service to be called Fox One, launch before NFL season
  • Boeing is in talks to reacquire fuselage maker Spirit Aerosystems after spate of quality defects
  • Has the Stanley cup hype reached its peak?
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Five Key Market Ratios Every Investor Should Follow
next post
‘Moana 2’ tops $1 billion, extending Disney’s box office domination

You may also like

Microsoft to roll out new autonomous AI agents next month,...

October 22, 2024

‘Buy now, pay later’ goes from niche to normal as...

March 10, 2024

Meme stock mania is back: Why everyone is talking about...

May 16, 2024

Employers added 206,000 jobs in June as sturdy labor market...

July 8, 2024

Nvidia says Anthropic is telling ‘tall tale’ in its defense...

May 2, 2025

Social Security fund projected to be depleted sooner than expected

April 1, 2023

Nissan issues ‘do not drive’ warning for 84,000 older-model vehicles...

May 31, 2024

Elizabeth Holmes appeals ‘unjust’ conviction in Theranos fraud case

April 21, 2023

8 key technologies transforming the future of global supply chains

December 20, 2022

Willow Bay and Bob Iger to take controlling stake in...

July 18, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Nvidia results spark global chip rally

      May 30, 2025
    • Boeing to resume airplane deliveries to China next month, ramp up Max production, CEO says

      May 29, 2025
    • Nuclear Power Trio: OKLO, SMR, and CCJ in Focus

      May 29, 2025
    • Analyzing SIL, USO, and NVDA: Could These Bullish Patterns Trigger?

      May 29, 2025
    • E.l.f. Beauty to acquire Hailey Bieber skin care brand Rhode in up to $1 billion deal

      May 29, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,764 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,470 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,450 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,430 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,307 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,104)
    • Investing (538)
    • Stock (2,578)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Nvidia results spark global chip rally

      May 30, 2025
    • Boeing to resume airplane deliveries to China next month, ramp...

      May 29, 2025
    • Nuclear Power Trio: OKLO, SMR, and CCJ in Focus

      May 29, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,104)
    • Investing (538)
    • Stock (2,578)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Trump Media stock sinks to new...

    August 20, 2024

    Amazon and Nvidia say AI data...

    April 24, 2025

    The Fed may soon cut interest...

    July 11, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here