Core Insights - U.S. Bank has launched a new organization focused on emerging digital products and services, including stablecoin issuance, cryptocurrency custody, asset tokenization, and digital money movement [1][2] - The Digital Assets and Money Movement organization aims to develop revenue from these services, establish the bank's digital asset strategy, and accelerate progress within U.S. Bank [2][3] Company Developments - The organization will be led by Jamie Walker, who has over 20 years of experience at U.S. Bank and has been in his current role for eight years [3] - U.S. Bank is positioning itself as a trusted partner in the evolving digital asset landscape, emphasizing the importance of digital capabilities for clients [4] Industry Context - The mainstreaming of digital assets represents a significant transformation in the banking sector, influenced by technological changes, regulatory developments, and economic uncertainty [4] - Recent regulatory changes, such as the Federal Reserve Board's easing of restrictions on banks engaging in crypto activities, have created a more favorable environment for digital asset initiatives [4][5] - U.S. Bank has been appointed as the custodian for reserves backing Anchorage Digital Bank's payment stablecoins, highlighting its role in the digital asset ecosystem [5][6]

Core Insights - U.S. Bank has established a new Digital Assets and Money Movement organization to enhance the development and revenue growth of emerging digital products and services [1] - The focus areas for this new organization include stablecoin issuance, cryptocurrency custody, asset tokenization, and digital money movement [1] - Jamie Walker, an experienced professional in the payments industry, will lead this new initiative at U.S. Bank [1]

Core Insights - Citi plans to offer crypto custody services in 2026, allowing the bank to hold digital assets like bitcoin and ether for clients, marking a significant move into the digital asset space [1] - The custody solution has been in development for two to three years, with hopes to launch a credible offering for asset managers and other clients in the coming quarters [2] - Citi is pursuing a hybrid approach for custody tools, developing some in-house while exploring partnerships for other solutions, indicating flexibility in their strategy [3] Industry Context - The custody plan aims to provide institutional clients with a regulated method to store crypto, which is seen as essential for traditional investors looking to enter the sector [2] - Citi's custody service would join a growing portfolio of digital asset initiatives, including potential stablecoin issuance and tokenized deposits, reflecting the bank's commitment to innovation in the financial sector [3] - Recent investments, such as Citi Ventures' investment in BVNK, a stablecoin payments startup, highlight the bank's active role in the evolving landscape of digital finance [4]