TechFlow, June 12 — According to Cointelegraph, Gunjan Kedia, CEO of U.S. Bancorp, said the bank is "studying and observing" its potential role in the stablecoin space, while its institutional crypto custody business is experiencing a revival under the crypto-friendly Trump administration.
Kedia noted that the bank's crypto custody service, launched in 2021, performed poorly during the Biden administration due to significant regulatory uncertainty for large institutional investors. Currently, this business has become active again.
Regarding stablecoins, Kedia stated that U.S. Bancorp might create its own stablecoin, potentially through partnerships. The bank could also provide infrastructure for stablecoins, such as holding reserve assets and offering custody services.
