U.S. Bank Launches New Digital Assets Division
U.S. Bank (NYSE: USB), the fifth-largest U.S. commercial bank, has created a new Digital Assets and Money Movement division. This unit will focus on stablecoin issuance, crypto custody, tokenized assets, and digital money transfers. The move responds to growing institutional demand for regulated blockchain financial services.
Jamie Walker, a payments industry veteran and current CEO of Elavon, will lead the new division. He will continue managing Merchant Payment Services until a replacement is named.
Dominic Venturo, U.S. Bank’s Chief Digital Officer, said the initiative aims to connect traditional payments with blockchain solutions. He stated, “Clients increasingly want to understand how digital assets can help them safely move money, store deposits, and use tokenized assets.”
The bank plans to leverage its experience in real-time payments and digital wallets to develop compliant digital money solutions. No official launch date has been announced.
Major Banks Expand Digital Asset Services
Citibank, the third-largest U.S. bank by assets, recently confirmed plans to launch a regulated crypto custody platform in 2026. This platform will provide institutional-grade storage for stablecoin reserves and Bitcoin ETF assets.
Both Citi and U.S. Bank are preparing for a future where digital assets operate within traditional banking systems. Citi focuses on custody and fund management, while U.S. Bank emphasizes money movement and tokenized payments.
This division of roles shows how major banks are specializing in different areas of digital finance. As regulations ease, competition will center on integrating stablecoins, tokenized assets, and digital payments into mainstream banking.
