Summary
- BofA has named Ethereum (ETH) as a major beneficiary in the stablecoin market.
- Ethereum, together with Stripe, is drawing attention as a key infrastructure provider in the emerging stablecoin market.
- The Ethereum network is used as the foundation for issuing many stablecoins, making it likely to benefit directly from future market expansion.
The American investment bank BofA (Bank of America) identified Ethereum (ETH) as one of the main beneficiaries in the stablecoin market.
According to The Crypto Basic, a cryptocurrency-focused media outlet, BofA stated in its weekly on-chain report on the 14th (local time), "This week marks the beginning of 'Crypto Week' in the U.S. Congress, with formal discussions on stablecoin regulatory bills underway," adding, "Ethereum, along with Stripe, could gain attention as a key infrastructure provider in the emerging stablecoin market."
The report emphasized that the Ethereum network is used as a foundational platform for issuing numerous stablecoins, thus making it possible to directly benefit from future market growth.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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