U.S. Bank — one of the nation’s largest lenders and global custodians — is officially deepening its bet on blockchain and digital finance.
The bank announced Wednesday (Oct. 15) that it has established a dedicated Digital Assets and Money Movement organization focused on four major areas:
- Stablecoin issuance and management,
- Cryptocurrency custody services,
- Asset tokenization, and
- Next-generation digital money movement.
The new division will focus on both product innovation and strategic execution, supporting commercial and institutional clients eager to integrate digital assets into traditional banking workflows.
“Digital assets are rapidly evolving, and U.S. Bank is well-positioned as they grow and become more common across financial services,” said Dominic Venturo, Chief Digital Officer at U.S. Bank. “Clients increasingly want to understand how digital assets can help them safely move money, store deposits and use tokenized assets, among other potential use cases.”
A New Structure for Digital Growth
The new organization will be led by Jamie Walker, who also serves as CEO of Elavon — U.S. Bank’s global merchant payment acquiring business. Walker has been with the bank for more than two decades and will now oversee both payment modernization and digital asset strategy.
He will report directly to Venturo, aligning the initiative with U.S. Bank’s broader innovation roadmap.
“We’ve been at the forefront of payments and money movement,” Walker said. “Our clients benefit from working with a trusted partner like U.S. Bank that is developing the next generation of digital capabilities.”
According to U.S. Bank, the new organization’s mandate includes:
- Developing new digital-asset products that align with regulatory and operational frameworks.
- Driving enterprise-wide strategy to integrate blockchain applications into treasury, custody, and payments.
- Collaborating with fintech partners and regulators to shape standards for tokenized assets and on-chain settlement.
Industry Context: From Caution to Competitive Momentum
U.S. Bank’s move comes amid a broader shift in U.S. banking policy and sentiment toward digital assets.
In June, the Federal Reserve Board dropped its “reputational risk” rule, effectively clearing the path for regulated banks to enter the crypto ecosystem under existing supervisory standards.
More recently, Office of the Comptroller of the Currency (OCC) chief Jonathan V. Gould reinforced that message, saying:
“The OCC under my leadership does not impose blanket barriers to banks that want to engage in digital asset activities.”
That comment came as the OCC granted conditional approval to Erebor Bank, a digital-first national bank designed to support crypto-related services.
A Natural Expansion from Custody to Tokenization
U.S. Bank’s new division builds on its existing digital asset footprint, including its role as custodian for reserves backing Anchorage Digital Bank’s payment stablecoins.
Announced earlier this month, that partnership places U.S. Bank at the heart of a regulated bridge between traditional custodial banking and blockchain-based payment infrastructure.
Anchorage Digital — the first federally chartered crypto-native bank — required a partner with strong custodial capabilities and regulatory credibility. U.S. Bank, as one of the top five global custodians with trillions in assets under custody and administration, met that need.
The new organization expands that logic: turning one-off partnerships into a comprehensive digital-asset operating model.
| Digital Capability | Primary Function | Market Impact |
|---|---|---|
| Stablecoin Custody | Holds reserves backing regulated digital currencies | Strengthens confidence in payment coins |
| Asset Tokenization | Converts real-world assets (RWAs) like loans or real estate into digital tokens | Increases liquidity and market efficiency |
| Digital Money Movement | Enables on-chain settlement and programmable payments | Reduces cost and friction in B2B payments |
| Crypto Custody | Safeguards institutional crypto holdings | Expands institutional-grade access |
Why Now: Stablecoins and On-Chain Payments Go Mainstream
The mainstreaming of stablecoins has become one of the defining trends in global banking. As of October 2025, the combined market capitalization of leading U.S. dollar-backed stablecoins (including USDC and PYUSD) exceeds $150 billion, according to CoinMetrics data.
Corporate treasuries and fintech firms increasingly use stablecoins for cross-border payments, instant settlement, and on-chain liquidity management.
For banks like U.S. Bank, the opportunity lies in offering regulated versions of these same products — with built-in compliance, security, and deposit insurance infrastructure.
PYMNTS previously reported that digital assets are reshaping traditional banking models, citing both regulatory easing and client demand for blockchain-enabled financial products.
Regulatory Signals and Strategic Alignment
The timing also aligns with the Federal Reserve’s 22×6 settlement plan, which expands large-value Fedwire operations into near-continuous availability by 2029. This environment could make it easier for tokenized money and on-chain payments to operate in sync with traditional financial systems.
By launching its Digital Assets and Money Movement organization now, U.S. Bank is positioning itself for the next phase of digital settlement infrastructure, where programmable payments, tokenized deposits, and blockchain-based asset transfers will coexist with Fedwire and FedNow.
“Our clients are looking for trusted partners that understand both regulation and innovation,” said Walker. “We see this as an evolution of banking, not a replacement of it.”
Market Implications: From Early Adopter to Industry Catalyst
Industry analysts say the move signals that large U.S. banks are no longer on the sidelines of digital assets. Instead, they are actively building internal capabilities to support the next generation of money movement.
This shift could accelerate:
- Tokenization of traditional assets (bonds, loans, and real estate) for instant settlement.
- Stablecoin-backed B2B payments across borders.
- Integrated custody and trading services for institutions under one regulatory umbrella.
For U.S. Bank, this diversification could expand fee-based income while strengthening relationships with fintechs, corporates, and institutional investors seeking compliant digital-asset solutions.
The Bigger Picture: Banking Meets Blockchain
U.S. Bank’s latest initiative mirrors similar efforts by peers. JPMorgan Chase continues to expand its JPM Coin and Onyx Digital Assets platform, while Citigroup is piloting tokenized deposits for cross-border trade finance.
These moves reflect a growing consensus that digital assets are not just speculative instruments, but foundational technologies for improving settlement speed, transparency, and liquidity in the global financial system.
| Bank | Digital Initiative | Focus Area |
|---|---|---|
| U.S. Bank | Digital Assets & Money Movement Organization | Stablecoins, Tokenization, Custody |
| JPMorgan | Onyx / JPM Coin | Institutional payments, blockchain settlement |
| Citi | Tokenized Deposits Pilot | Trade finance, cross-border settlement |
| Wells Fargo | DLT for Reconciliation | Treasury and cash management |
| BNY Mellon | Crypto Custody Services | Institutional digital assets |
FAQs
1. What is the purpose of U.S. Bank’s new Digital Assets and Money Movement organization?
The division will focus on emerging digital finance opportunities — including stablecoin issuance, tokenized assets, and digital money movement — while integrating these capabilities across the bank’s core businesses.
2. Who is leading the new organization?
Jamie Walker, CEO of Elavon and longtime U.S. Bank executive, will lead the new unit and report to Chief Digital Officer Dominic Venturo.
3. How does this align with U.S. Bank’s current digital strategy?
It builds on existing digital partnerships, such as U.S. Bank’s recent role as custodian for Anchorage Digital’s stablecoin reserves, expanding its footprint into regulated blockchain-based services.
4. Why are banks entering the digital asset space now?
Recent regulatory signals — including the Fed’s easing of “reputational risk” restrictions and OCC’s approval of crypto-friendly charters — have clarified compliance pathways for banks to innovate safely in digital finance.
5. How could this affect customers and businesses?
Businesses may soon gain access to faster, more secure cross-border payments, tokenized asset trading, and improved liquidity tools, all backed by a regulated banking institution.
6. What’s next for U.S. Bank in digital assets?
The bank plans to launch new tokenization and stablecoin services in phases through 2026, beginning with custody and treasury integrations for institutional clients.