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- President Trump issued an executive order supporting the growth of digital assets and blockchain technology.
- Trump’s support for cryptocurrency is reinforced by his entry into the meme coin space.
- Leaders of the two largest banks in the U.S. have differing opinions on the future of digital assets, but, for payments providers, the time to prepare is now.
President Trump wasted no time in his first week back in the Oval Office, issuing a slew of executive orders addressing a broad range of issues he plans to influence during his second term. The orders seek to establish control over healthcare regulations, the country’s approach to environmental affairs, and U.S. immigration policy.
But Trump’s executive order directed at reforming the role digital assets play in the economy caught the eye of cryptocurrency enthusiasts and financial industry executives alike. The order communicates Trump’s aim to “support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy.”
Trump’s plans signal a change in direction for the country’s approach to cryptocurrency. Under President Biden, the U.S. Securities and Exchange Commission (SEC) went after major players in the industry, including Coinbase, for failing to adhere to industry regulations. The former FTX Exchange, the now defunct cryptocurrency exchange and hedge fund that collapsed in 2022, was a high-profile fraud case that charged the company with siphoning deposits and defrauding customers, investors and lenders about its accounting that hid losses from theft.
On January 17, just days before he was sworn in as the country’s 47th president, Trump turned to social media platform Truth Social to announce his launch of a new meme coin.

The digital asset industry, armed with a stamp of approval from the White House, may finally have the backing it needs to reach its full potential. Cryptocurrency has more than its share of fervent supporters, but it has long been held back by the threat of regulations that could reduce digital currency value swiftly and permanently
The cryptocurrency market is prone to volatility and is marked by sudden surges forward in response to positive news. It seems to have settled into an upward trajectory in the early days of 2025. Bitcoin, which is among the leading cryptocurrencies, has a market capitalization in excess of $2 trillion. Heading into the last weekend of January, Bitcoin, bolstered by Trump’s executive order, was up more than 11% on the year.
Equity markets have enjoyed robust growth over the same period, though they lag far behind Bitcoin. The S&P 500 was up approximately 3.9% at market’s close on January 25.
Catching the Attention of Prominent Payment Players
To this point, the political environment around digital assets have made cryptocurrencies such as Bitcoin and Ethereum more suitable as a speculative investment than a transactional tool. The volatility of cryptocurrency prices produces more questions than answers when it comes to the discussion of transforming digital currency into a payment mechanism that buyers and sellers can use to transact with ease.
But that all could change if Trump’s executive order leads to more guide rails that payments providers can use to bring stability and security to digital currency transactions.
Financial industry leaders have been skeptical to tout the potential impact cryptocurrency may have on payments practices. Some, such as JPMorgan Chase CEO Jamie Dimon, have gone on record to decry Bitcoin in the recent past. JPMorgan Chase is the largest bank in the U.S.
Growing public and political support for cryptocurrencies hasn’t done much to change Dimon’s mind. Speaking to CBS News earlier this month, Dimon said, “We are going to have some kind of digital currency at some point. I’m not against crypto.”
“I just don’t feel great about Bitcoin,” Dimon added. “I applaud your ability to want to buy it or sell it. Just like I think you have the right to smoke, but I don’t think you should smoke.”
But the head of America’s second-largest bank, Bank of America, feels otherwise.
Brian Moynihan, Bank Of America’s CEO, sees a future for cryptocurrencies that extends beyond the speculative-investment realm.
Speaking from the 2025 World Economic Forum Annual Meeting in Switzerland, Moynihan suggested a future where consumers can use cryptocurrency as a transaction tool may be on the horizon.
“If you go down the street here and you go in and buy lunch, right, if you can pay with Visa, Mastercard, a debit card, Apple Pay, etc., this would just be another form of payment,” Moynihan said. “We have hundreds of patents on blockchain already — we know how to enter the field.”
It’s not too early for card issuers to begin exploring how they can reposition their product offerings should digital currency payments proceed along a path to widespread adoption.
Following Trump’s executive order, the SEC has already taken action that effectively allows for Wall Street banks to own cryptocurrencies such as Bitcoin. Sometimes, when the winds of change blow they do so with great force, particularly when they align with a groundswell of public support.