US Bank Launches Digital Assets and Payments Unit

US Bank has established an organization to accelerate the development and growth of emerging digital products and services, including stablecoin issuance, cryptocurrency custody, asset tokenization, and digital money movement.

The new Digital Assets and Money Movement organization will focus on advancing the bank’s strategy for digital assets, supporting development in areas such as tokenization and digital payments, and serving as a central source of knowledge and expertise across US Bank.

Jamie Walker will lead the new organization. He has been with US Bank for over 20 years, spending the past eight as head of Merchant Payment Services (MPS). He has also served as CEO of Elavon, the bank’s global merchant acquiring business.

Walker will continue in his current MPS role while the bank carries out a comprehensive search for his successor. Once that process is complete, he will report to Dominic Venturo, chief digital officer at US Bank.

Venturo said:  “Clients increasingly want to understand how digital assets can help them safely move money, store deposits, and use tokenized assets, among other potential use cases. Jamie’s deep, global experience in payments and his broad understanding of customer needs across segments and industries will be vital as we innovate in smart, safe digital banking and payments well into the future.”

The establishment of the organization supports US Bank’s broader strategy to enhance its payments capabilities. This includes developing digital tools such as wallets, integrating with the Real-Time Payments (RTP) network and FedNow, and expanding embedded payment solutions that allow businesses to incorporate payment functions directly into their existing systems.