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The newly established division will focus on developing next-generation financial services, including stablecoin issuance, cryptocurrency custody, asset tokenization, and digital fund transfers. Through this initiative, US Bank plans to secure new revenue streams in the digital asset business.
Walker, the newly appointed head of the division, is a financial expert with over 20 years of experience at US Bank. He has led the merchant payment services division for the past eight years and also served as CEO of Elavon, a subsidiary responsible for the global merchant acquisition business.
A US Bank official explained, "Walker will continue to serve in that role until a successor is selected for the merchant payment services division. After that, he will report directly to Chief Digital Officer Dominic Venturo and oversee the digital asset business."
This reorganization aligns with the expansion of digital asset businesses by global financial institutions. In particular, the passage of stablecoin regulation legislation in the United States is expected to accelerate the entry of traditional financial institutions into the digital asset market.
A financial industry insider analyzed, "The fact that major banks are expanding their digital asset business units one after another is due to the judgment that digital finance will become a new growth engine in the future," and "US Bank's recent reorganization can be understood in the same context."
Joohoon Choi joohoon@blockstreet.co.kr
