United States Bancorp restarts encryption business, researching and developing stablecoin services.

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[Chain News] On June 12, U.S. Bancorp CEO Gunjan Kedia revealed at the Morgan Stanley Financial Conference that the bank’s encryption custody business has been revitalized with the support of the Trump administration’s policies, and it is currently exploring business opportunities in the stablecoin sector.

Kedia stated that the encryption custody service launched by the bank in 2021 was hindered by regulatory uncertainties during Biden’s tenure, but recently the demand from institutions has clearly rebounded. She pointed out that the current key issue is stablecoin payments, and banks may issue their own stablecoins or provide infrastructure services such as reserve asset custody through collaborative models. Kedia also noted that currently, 90% of stablecoin transactions still occur within the circulation scenarios of cryptocurrencies.

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