Stablecoin progress to come with time and reg. clarity Ebrahim Poonawala has been busy exploring the topic of stablecoins and the impact on banks. He's hosted expert events, started a series of notes on the topic and has communicated with bank CEOs on developments and potential bank offerings. Ebrahim joins the podcast to talk about regulatory progress but the hurdles that remain before consumers and businesses can start using stablecoins just as they use deposit accounts. He also discusses how, for most consumers, there are inadequate incentives to switch from traditional credit cards to stablecoins for payments. He addresses the economics of stablecoin issuers, which are highly dependent on the level of interest rates, and how, if traditional banks were to issue a consortium led stablecoin solution, it could drive network effects and adoption. We also tackle the related topic of tokenized assets and the advantages they can provide. Stablecoins also come with risks, one of several reasons that adoption could progress more slowly than some expect.   You may also enjoy listening to the Merrill Perspectives podcast, featuring conversations on the big stories, news and trends affecting your everyday financial life.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2025 Bank of America Corporation. All rights reserved.