Bank of America Says a Digital U.S. Dollar Is ‘Inevitable’

The U.S. will likely move forward with its own digital currency, with issuance occurring between 2025 and 2030, according to Bank of America Corp.

U.S. government-backed coins, also known as central bank digital currencies, or CBDCs, “are an inevitable evolution of today’s electronic currencies,” strategists Alkesh Shah and Andrew Moss, wrote in a report Monday. In the meantime, use of digital currencies issued by private entities will probably grow, they said.