Some big US banks plan to launch stablecoins, expecting crypto-friendly regulations

Some large U.S. lenders, including Bank of America and Citibank, are working on launching stablecoins at a time when the country is looking to adopt more crypto-friendly regulations.

BofA CEO Brian Moynihan said on Wednesday the bank is working on launching a stablecoin, and investors can expect the lender to move forward with it, without giving a timeline.

Stablecoins, a type of cryptocurrency designed to maintain a constant value, are usually pegged to a fiat currency such as the U.S. dollar and are commonly used by crypto traders to move funds…