- Bank of America fast-tracks a USD stablecoin.
- TRON processes $691B in USDT transfers, led by whales.
Bank of America is reportedly fast-tracking its own U.S. dollar-backed stablecoin — a sign that legacy finance is no longer content to sit on the sidelines.
At the same time, TRON [TRX] has quietly shattered records, processing over $691 billion in USDT transfers in a single month, with whales responsible for a staggering $411 billion of that flow.
As traditional banks gear up to challenge blockchain-native networks, a new era of competition is taking shape.
TradFi wades deeper into blockchain waters
Bank of America’s stablecoin ambitions are an important shift in how major banks are approaching digital assets.
Once cautious, the banking giant is now leaning into blockchain as a core pillar of its future strategy; driven by the promise of faster settlements and competitive pressure from peers.
While earlier talks of partnering with JPMorgan Chase and others have yet to materialize, Bank of America is pushing ahead.
Speaking at a recent Morgan Stanley conference in New York, Bank of America CEO Brian Moynihan shed light on the bank’s shifting stance:
“We’re engaging both across the industry and independently. The technology has been understood for some time-what held us back was the regulatory fog. It wasn’t clear we were even permitted to move forward under existing banking rules.”
TRON: A whale highway for stablecoins
While Wall Street prepares its stablecoin debut, TRON is already in deep — processing a record $694.54 billion in USDT transfers this May alone.
According to CryptoQuant, nearly 60% of that volume came from whale transactions over $1 million, totaling $411.2 billion. TRON now leads all blockchains in stablecoin dominance, holding over $75 billion in TRC-20 USDT.
Source: CryptoQuant
With 17 separate $1 billion-plus mints already in 2025, the network’s pace shows no signs of slowing.
Its 10.5 billion cumulative transactions highlight one thing clearly: when it comes to moving big money fast, crypto whales are choosing TRON.
Source: CryptoQuant
Broader stakes
The stablecoin race is now influencing global finance and monetary policy.
In emerging markets, dollar-pegged stablecoins like USDT are gaining traction for remittances and inflation hedging, effectively exporting the U.S. dollar.
Meanwhile, the Fed is under mounting pressure to clarify its oversight role.
During congressional hearings in early June, lawmakers reignited debate over stablecoins’ potential risks to financial stability, citing their growing influence on Treasury markets.
At the same time, global central banks are accelerating CBDC pilots… making it clear that the future of digital money is no longer theoretical.
