BofA “Ethereum, Beneficiary item in the stablecoin market”

Bank of America (BofA) has pointed out Ethereum as a representative beneficiary of stablecoin growth. According to CryptoBasic reports, BofA stated in a recent weekly on-chain report, "Ethereum, along with Stripe, will occupy a key position in the emerging stablecoin infrastructure market."

Particularly during this week's ‘Crypto Week’ held by the US Congress, stablecoin bills and related regulatory proposals are being intensively discussed, from which it is analyzed that the utilization of Ethereum-based infrastructure will greatly expand if the bill is passed.

BofA diagnosed, "Ethereum is already the blockchain where the most stablecoins are issued, and if supported by related legislation, both demand and traffic are likely to react positively."

Meanwhile, this Crypto Week discusses not only the stablecoin bill but also the CLARITY Act for clarification of digital asset regulations, the Central Bank Digital Currency (CBDC) ban bill, and there is increasing anticipation for market institutionalization.