According to Odaily, Chris Gorman, CEO of KeyCorp, which manages $185 billion in assets, has expressed optimism about the potential of stablecoins as a premium solution for clients. In an interview with CNBC's 'Squawk on the Street,' Gorman discussed U.S. stablecoin legislation, emphasizing that stablecoins offer faster, cheaper, and superior options for customers. He highlighted the value storage capability of stablecoins, noting that KeyCorp clients are interested in holding stablecoins in their wallets, and the bank intends to facilitate this.
Regarding concerns about stablecoins potentially eroding bank deposits, Gorman acknowledged it as a threat but not an immediate one, stating that "the industry will respond." The bank plans to offer cryptocurrency trading and storage services through its banking platform.