Bank of America Advocates for Onchain Shift Among U.S. Banks

Bank of America’s Warning: Analysts from Bank of America, led by Ebrahim Poonawala, have urged U.S. banks to prepare for a significant transition to onchain finance by December 15, 2025, driven by regulatory changes from the OCC, FDIC, and Federal Reserve.

Importance of Blockchain Proficiency: The report emphasizes the need for banks to gain proficiency in blockchain technology and experiment with tokenized assets, such as stablecoins and digital deposits, to align with future regulatory requirements.

Resource Allocation and Wealth Management: Immediate actions suggested include allocating resources and training for onchain systems, which may also influence wealth management practices by incorporating crypto asset allocations.

Comparative Regulatory Landscape: The report draws parallels between the OCC's digital trust charters and the EU's Markets in Crypto-Assets Regulation, indicating a supportive regulatory environment for digital assets and potential cost reductions in banking operations through blockchain integration.