CEO of United Bank of America: We are currently researching stablecoins, and the bank may launch its own stablecoin

According to Cointelegraph, Gunjan Kedia, CEO of United Bank of America, stated that the bank is "researching and observing" its potential role in the stablecoin field, while its institutional crypto custody business is recovering under the crypto friendly Trump administration. Kedia stated that the cryptocurrency custody service created by the bank in 2021 performed poorly during the Biden administration, mainly due to the highly uncertain regulatory framework for large institutional investors at the time. At present, the business has been reactivated. Regarding stablecoins, Kedia stated that United Bank of America may create its own stablecoin and achieve this goal through partnerships. The bank can also provide infrastructure for stablecoins, hold supporting assets, and offer custody and other services.