Bank of America Prepares to Enter the Stable Coin Market: Bank of America’s CEO, Brian Moynihan,
has confirmed that the bank is ready to enter the stablecoin market when it receives regulatory approval in the United States.

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Swiss GDP

Bank of America

Swiss GDP Growth Slows in Q4, Falling Short of Expectations

On Thursday morning, the Swiss Federal Statistical Office (SECO) released the Q4 2024 GDP data,
which came in lower than market expectations and indicated a slowdown in the country’s economic growth.

According to the report, Switzerland’s GDP grew by 1.5% year-over-year in Q4,
falling short of the 1.6% forecast.
This follows a revised Q3 growth rate of 1.9%, down from the initial estimate of 2%.

On a quarterly basis, Swiss GDP grew by 0.2% in Q4,
aligning with expectations but slowing from the 0.4% growth recorded in Q3.

These figures reflect a decline in economic momentum in Switzerland towards the end of last year,
which may prompt policymakers to reassess monetary and fiscal strategies to support economic activity in the coming months.

Bank of America Prepares to Enter the Stablecoin Market Upon Regulatory Approval

Bank of America’s CEO, Brian Moynihan, reaffirmed that the bank is ready
to enter the stablecoin market as soon as it secures regulatory approval in the U.S.

Speaking at the Economic Club of Washington, D.C., this week,
Moynihan stated that the bank would launch its stablecoin operations immediately upon receiving regulatory clearance.
He compared stablecoins to money market funds and traditional bank accounts,
emphasizing their crucial role in financial transactions, as reported by CoinMarketCap.

Stablecoins, which are pegged to the U.S. dollar or other assets, have seen rapid growth,
with their market capitalization reaching $232 billion, despite the lack of a clear federal regulatory framework.

Under Republican President Donald Trump’s administration,
regulatory efforts concerning digital assets have gained increasing momentum.
Tim Scott, Chairman of the U.S. Senate Banking Committee,
has pledged to push for new legislation overseeing cryptocurrencies within the first 100 days of the new administration.
This could pave the way for major banks to expand into the crypto sector.

Bank of America Prepares to Enter the Stablecoin Market

Bank of America Prepares to Enter the Stable coin Market

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