Gate news bot news, Bank of America (BoA) is exploring stablecoins to leverage blockchain technology to improve its payment infrastructure. During the second quarter earnings call, CEO Brian Moynihan stated that the bank is focused on using stablecoins as a means of transaction, aiming to transfer trillions of dollars in customer assets daily. Bank of America has considered collaborating with other major banks such as JPMorgan Chase and Citigroup to jointly issue stablecoins and advance under supportive regulatory conditions.

Ethereum's market capitalization jumped to $327 billion earlier today, surpassing Bank of America's (BoA), and ETH touched $2,725 for the first time since February. In addition, the inflow of funds into the Ethereum spot ETF has exceeded $100 million, indicating that institutional funds are flowing strongly, and all eyes are on whether ETH can return to $3,000 and hit a new all-time high. Over the past 15 days, Ethereum's market capitalization has increased by $100 billion, and the price of the coin has rebounded from a low of $1,800 to $2,700. During this time, its market capitalization has surpassed top giants such as Nestle, Alibaba, Coca-Cola and now Bank of America.