U.S. Bank has established a new Digital Assets and Money Movement organization, in hopes to “to accelerate development of and grow revenue from emerging digital products and services such as stablecoin issuance, cryptocurrency custody, asset tokenization and digital money movement.”
In other words, U.S. Bank is further jumping into the bitcoin and broader crypto space.
The Minneapolis-based institution, the fifth-largest bank in the United States, announced that payments veteran Jamie Walker will lead the new division.
Walker, who has been with U.S. Bank for over two decades, currently serves as head of Merchant Payment Services (MPS) and CEO of Elavon, the bank’s global merchant acquiring business. He will continue in that role until a successor is named, after which he will report to Dominic Venturo, U.S. Bank’s chief digital officer.
“Digital assets are rapidly evolving, and U.S. Bank is well-positioned as they grow and become more common across financial services,” Venturo said.
Earlier this year, U.S. Bank resumed its crypto custody services for institutional investment managers, initially launched in 2021, with NYDIG as the sub-custodian and an early access program for Global Fund Services clients.
The bank also expanded the service to include custody for bitcoin ETFs, citing clearer regulatory guidance as a key factor in relaunching the program.
U.S. Bank and their digital asset strategy
The new organization will serve as a central hub for the bank’s digital asset strategy, supporting cross-department collaboration and knowledge sharing.
Its mission includes both expanding existing capabilities and building new digital-first services that align with the fast-changing financial technology landscape.
Walker said he is “thrilled to have an opportunity to lead this Digital Asset and Money Movement team,” noting that U.S. Bank’s clients benefit from “working with a trusted partner that is developing the next generation of digital capabilities.”
The move comes as major financial institutions increase their investments in blockchain and digital asset infrastructure amid rising crypto prices and growing political support for the industry, including from President Donald Trump.
The bank has long positioned itself as an early adopter of payment innovations. It was among the first to support digital wallets, integrate with the Real-Time Payments (RTP) network, and adopt the FedNow service.
The bank has also expanded its embedded payment solutions, allowing businesses to integrate payment capabilities directly into their existing systems.
By bringing all its digital asset efforts under one team, U.S. Bank made it clear that it wants to stay ahead in modern payments — connecting traditional banking with the growing world of blockchain and digital money.
Source: https://bitcoinmagazine.com/news/u-s-bank-launches-crypto-and-money-movement-division-names-jamie-walker-to-lead
