Bank of America CEO Advocates for Crypto Payment Integration in Banking
Bank of America CEO Brian Moynihan stated that the US banking industry must adapt to support crypto payments as regulations evolve. He emphasized that if regulations permit, banks will heavily engage in crypto transactions.
Kraken launched a new payment platform, Kraken Pay, allowing users to transfer assets from exchange accounts. Key features include:
- Support for over 300 fiat currencies and crypto tokens
- Free asset transfers
- Fees applied for currency conversion during transfers
This launch reflects the expanding crypto payments sector, with notable developments from platforms like Venmo and Ripple, which is updating its payment product this year. The payments space is viewed as an area primed for disruption, especially with increased regulatory support and growing interest from retail and institutional investors. Projections suggest significant growth in this sector by 2025.