Ripple's RLUSD Tipped as Top Contender Amid Bank Of America’s Stablecoin Push

Highlights

Bank of America CEO Brian Moynihan confirmed active exploration of a dollar-backed stablecoin.
Paul Barron cite RLUSD’s institutional adoption as reasons for its potential selection by Bank of America.
The GENIUS Act offers a legal framework for stablecoins, paving the way for traditional finance adoption.

Ripple Stablecoin (RLUSD) has been tipped as the top contender for Bank of America’s stablecoin plans. This is thanks to its regulatory backing and growing adoption.

Bank of America’s Stablecoin Play and RLUSD’s Role

Bank of America has confirmed that U.S. banks are looking into the stablecoin market. They hinted that they might launch their stablecoin, which would be tied to the U.S. dollar and supported by cash and short-term U.S. Treasury securities. On July 16, 2025, CEO Brian Moynihan stated that the bank has conducted extensive internal research but is waiting for clearer regulations before moving forward.

Moynihan has not ruled out the possibility of creating a new solution, but many industry experts believe RLUSD may be the better choice. Crypto investor Paul Barron shared that RLUSD already has a strong foundation, making it a strong candidate.

RLUSD offers a ready-made solution that supports Bank of America’s compliance-first philosophy. It was founded in New York under the strict NYDFS regulatory framework and works with BNY Mellon for institutional-grade custody.

Furthermore, RLUSD supports interoperability on both the XRP Ledger and Ethereum, allowing for multi-chain use. Its market value has grown by more than 30% since last month and recently surpassed $500 million.

Deep Ties Between Ripple and Bank of America

Speculation over RLUSD’s role gained momentum due to Bank of America’s long-standing ties with Ripple. Since 2019, patents and internal documents have referenced Ripple’s distributed ledger technology for interbank settlements.

CoinGape previously revealed that Bank of America, supported by more than 80 blockchain-related patents, has even processed transactions internally using XRP. The action demonstrates a move towards decentralized systems intended to enhance liquidity management and expedite cross-border payments, two goals that are highly compatible with the technical advantages of the RLUSD.

Observers argue that if central U.S. banks opt for a shared stablecoin infrastructure, RLUSD’s strong compliance posture and existing ecosystem could make it an obvious choice.

Bank of America isn’t the only major player eyeing stablecoins. JPMorgan has confirmed plans to expand its stablecoin offering, adding to its earlier launch of the JPM Coin. Citigroup has also hinted at exploring a Citi-branded stablecoin alongside tokenized deposits and crypto custody services.

The GENIUS Act, which establishes a national legal framework for stablecoins in the United States, was signed not long before Moynihan made his recent remarks. Bank of America is changing its business plans to comply with new regulations and to take digital assets seriously. Among its strategies, the RLUSD stablecoin is notable for its rapid growth and a solid record of compliance. The token is already part of Ripple’s extensive payment network. This includes partnerships with banks like American Express and Banco Santander.

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Michael Adeleke

Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.

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