U.S. Bancorp CEO: Exploring Stablecoins, Bank May Launch Its Own Stablecoin

According to Cointelegraph, Gunjan Kedia, CEO of U.S. Bank, stated that the bank is "studying and observing" the potential role it could play in the stablecoin sector, while its institutional crypto custody business is experiencing a revival under the crypto-friendly Trump administration. Kedia noted that the crypto custody service launched by the bank in 2021 performed poorly during the Biden administration, mainly due to highly uncertain regulatory frameworks for large institutional investors at the time. Currently, this business has become active again. Regarding stablecoins, Kedia indicated that U.S. Bank may create its own stablecoin and achieve this goal through partnerships. The bank could also provide infrastructure for stablecoins, hold backing assets, and offer custody services.