NEW YORK, July 16 (Reuters) - Bank of America ( BAC )

has been working on stablecoins like the rest of the industry

and investors can expect the lender to move forward on this, CEO

Brian Moynihan said on Wednesday, without giving a timeline.

"We feel both the industry and ourselves will have

responses. We've done a lot of work," the CEO of the

second-largest U.S. bank said.

"We are still trying to figure out how big or small it is,

because in some places there are not big amounts of money

movement. So you would expect us all to move, our company to

move on that," Moynihan told analysts on a post-earnings

conference call.

Stablecoins, a type of cryptocurrency designed to maintain a

constant value, are usually pegged to a fiat currency such as

the U.S. dollar and are commonly used by crypto traders to move

funds between tokens.

Moynihan said Bank of America ( BAC ) was still trying to understand

client demand, which was not high at this point, and would roll

out a stablecoin at an appropriate time, likely in partnership

with other players.

U.S. President Donald Trump has promised to be the "crypto

president," popularizing its mainstream use in the country.

Meanwhile, Wall Street lender Morgan Stanley ( MS ) said

that it was still weighing its options.

Chief Financial Officer Sharon Yeshaya said the bank was

following stablecoin developments closely.

"As you would expect we are actively discussing it. We're

looking both at the landscape, the uses and the potential uses

for our own client base. But, it really is a little early to

tell, especially for the businesses we run versus businesses

that you might see from competitors, on how a stablecoin would

play in," she added.