US Bancorp has been attempting to dip its toes into the institutional crypto custody business. It was mostly dead in the water, but Trump’s crypto-friendly stance can certainly help the cause. As per one of the business insiders, the company will primarily wait and see where the water flows.
Gunjan Kedia, CEO of US Bancorp, said that she is optimistic about the Trump administration’s pro-crypto stance. Under Biden’s rule, Bancorp faced numerous setbacks, and times were dire.
Gunjan said, “The product didn’t really take off because the regulatory regime at that point was very uncertain for large institutional investors.” Gunjan further added, “That product is back, and we are very able to provide it.”
This is not limited to Bancorp alone. In the Biden era, the SEC focused on penalizing crypto businesses. Many prominent industry figures ended up facing soft bans and regulatory actions.
Under the new regime, Kedia believes that the stablecoin market will grow at a steady pace. This sense of optimism is quite commendable and hopeful. However, the USA is experiencing a sense of turmoil due to the public fallout between Musk and Trump.
Hence, the cryptocurrency landscape may become problematic in the years to come. Whatever the case may be, things currently look promising for the world of crypto.
