Bank of America is among them. CEO Brian Moynihan recently confirmed that the bank has laid internal foundations to participate in the stablecoin market and plans to act when the timing aligns.

BofA is itself preparing to enter the stablecoin market, CEO Brian Moynihan said last week. The bank has already laid the groundwork and expects to act when the time is right, he said.

Bank of America said on Wednesday its board has authorized a $40 billion stock repurchase program.

Key Points Bank of America is the second largest U.S. bank and the fifth largest financial company by market capitalization. The company just reported strong second-quarter earnings.

Bank of America CEO Brian Moynihan said last week that his bank is working to launch a stablecoin, while Citigroup CEO Jane Fraser said her bank was considering such a move, Reuters reported.

JPMorgan CEO Jamie Dimon, Citigroup (C) CEO Jane Fraser and Bank of America (BAC) CEO Brian Moynihan all said last week they are planning to get involved in dollar-pegged stablecoins as Congress ...

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Key PointsWarren Buffett's Berkshire Hathaway sold shares of Bank of America and added shares of Domino's Pizza in the first quarter.

Warren Buffett's Berkshire Hathaway sold shares of Bank of America and added shares of Domino's Pizza in the first quarter. Bank of America is the second largest U.S. bank as measured by domestic ...

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