PANews reported on February 26 that according to Fortune, Brian Moynihan, chairman and CEO of Bank of America (BofA), said that the financial services industry is about to enter the crypto economy. Stablecoins are digital assets like Bitcoin, but backed by the US dollar will make stablecoins similar to money market funds with check access or bank accounts. Brian Moynihan added that this means that the bank will soon be seen offering BofA coins pegged to US dollar deposit accounts.