TechFlow, July 24 — According to CNBC, Chris Gorman, CEO of KeyCorp bank, which manages $185 billion in assets, said stablecoins have a "bright future" and are an excellent solution for customers.
Gorman, speaking on CNBC's "Squawk on the Street," discussed U.S. stablecoin legislation, stating that stablecoins are faster, cheaper, and superior, representing a "truly excellent solution for clients." He emphasized the value storage function of stablecoins, noting that KeyCorp customers want to hold stablecoins in their wallets, and the bank will facilitate this.
Regarding concerns about stablecoins potentially eroding bank deposits, Gorman acknowledged it as a threat, but not an immediate one, saying, "the industry will respond." The bank plans to offer cryptocurrency trading and storage services to customers through its banking platform.
