KeyCorp CEO: Stablecoins Have Great Potential, Plans to Offer Cryptocurrency Trading and Custody Services to Clients

Odaily Planet Daily reported that Chris Gorman, CEO of KeyCorp, which manages $185 billion in assets, stated that stablecoins have "broad prospects" and are a high-quality solution for clients. In an interview with CNBC's "Squawk on the Street," Gorman discussed U.S. stablecoin legislation, noting that stablecoins are faster, cheaper, and superior, making them "a truly premium solution for clients." He emphasized the value storage function of stablecoins, saying that KeyCorp's clients want to hold stablecoins in their wallets, and the bank will facilitate this. Regarding concerns that stablecoins might erode bank deposits, Gorman acknowledged this as a threat but not an immediate one, adding that "the industry will respond." The bank plans to offer cryptocurrency trading and storage services to clients through its banking platform. (CNBC)