US Bancorp has launched a new internal team that will focus on digital assets and money‑movement services. The move signals the bank’s push into the growing crypto market and its effort to keep pace with the shift toward digital payments.
The unit will allow the bank’s customers to send and receive both traditional money and digital currencies, such as Bitcoin and Ethereum, through a single digital platform. It also plans to offer tools for businesses to accept coins, settle trades, and manage tokenized assets.
“We want to give our retail and commercial customers a seamless way to move money, whether in cash or crypto,” said a US Bancorp spokesperson. “By bringing everything under one roof, we make it easier for people to use digital currencies in their everyday transactions.”
US Bancorp is already one of the largest banks in the United States, with more than 300 branches. Adding a digital‑assets unit gives it a competitive edge with other financial institutions looking to launch crypto services.
Regulators are watching closely. US Bancorp said it will work with state and federal authorities to obey all rules for money‑movement and anti‑money‑laundering compliance. It will report on its progress in the first half of next year.
The bank’s digital‑assets team will be staffed by experienced fintech professionals, many of whom have backgrounds in blockchain development and payment technology. The organization aims to roll out new services for the next 12 months.
Beyond offering crypto, the unit will help small‑business owners and large corporations shift money faster and cheaper. By integrating crypto into its everyday banking, US Bancorp hopes to keep up with trends that drive more people toward digital and crypto‑based payments.
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