US Bank CEO: Encryption Accomplice Business Recovers, Exploring Stablecoin Business

Gate News bot message, at the Morgan Stanley financial conference, U.S. Bancorp CEO Gunjan Kedia shared the development of the bank's encryption asset business. According to Kedia, the bank's encryption custody service launched in 2021 received policy support during the Trump administration, but has been constrained by regulatory uncertainty during the Biden administration.

Currently, the bank's encryption custody business is experiencing a rebound in institutional demand. Kedia pointed out that stablecoin payments are the core direction of the current business exploration, with plans to issue proprietary stablecoins or provide infrastructure services such as reserve asset custody through collaborations. She also mentioned that 90% of stablecoin transactions are currently concentrated within the cryptocurrency ecosystem.

Source: Cointelegraph

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