Bank of America crypto strategists say stablecoin adoption and CBDC is ‘inevitable’

It appears that the United States will finally be moving forward to create its own central bank digital currency (CBDC), according to the Bank of America.

Bank of America crypto strategists Andrew Moss and Alkesh Shah wrote in a Monday note that CBDCs “are an inevitable evolution of today’s electronic currencies,” according to a Bloomberg report. The analysts wrote:

“We expect stablecoin adoption and use for payments to increase significantly over the next several years as financial institutions explore digital asset custody and trading solutions and as payments companies incorporate blockchain technology into their platforms.”

Meanwhile, a Thursday report titled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation” from the Federal Reserve Bank (FRB) weighed up the benefits and disadvantages of the U.S. potentially adopting a CBDC.

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