U.S. Bank To Launch Digital Assets Unit for Tokenized Payments

U.S. Bank (NYSE: USB), the fifth-largest commercial bank in the United States, announced the creation of a new Digital Assets and Money Movement organization to expand its role in blockchain-based financial services. The division will focus on stablecoin issuance, crypto custody, tokenized assets, and digital money movement, aligning with growing institutional demand for regulated digital infrastructure.

Jamie Walker, a 20-year payments veteran and current CEO of Elavon, will lead the new division while continuing to oversee Merchant Payment Services until a successor is appointed. According to Dominic Venturo, Chief Digital Officer at U.S. Bank, the initiative reflects the bank’s strategy to bridge traditional payments and blockchain-based solutions: “Clients increasingly want to understand how digital assets can help them safely move money, store deposits, and use tokenized assets,” he said. 

U.S. Bank will use its experience in real-time payments and digital wallets to build compliant digital money solutions, but, there is no official release date on radar. Yesterday, Citibank, the 3rd largest bank of U.S in assets, confirmed plans to launch a regulated crypto custody platform in 2026, offering institutional-grade storage for stablecoin reserves and the underlying assets of spot Bitcoin ETFs.

Both Citi and U.S. Bank are now positioning themselves for a future where digital assets function within existing banking frameworks rather than outside them.  While Citi focuses on custody and fund management, U.S. Bank’s approach leans toward money movement and tokenized payments, suggesting that major banks are beginning to divide digital finance into specialized verticals. As regulations ease, competition now hinges on how effectively major banks integrate stablecoins, tokenized assets, and digital payments into mainstream systems.