KeyCorp CEO Chris Gorman has voiced strong support for stablecoins, describing them as “faster, cheaper, and better” payment tools that offer clear advantages for the bank’s clients.
Speaking on CNBC’s Squawk on the Street, Gorman emphasized the rising interest from both institutional and retail customers in integrating stablecoins into their financial activities.
As one of the largest regional banks in the United States, with assets under management exceeding $185 billion, KeyCorp is positioning itself to meet this demand. Gorman explained that many clients now want to hold stablecoins in their digital wallets, and the bank is actively preparing to accommodate that need. He stated that the bank will ensure these services are available, signaling a shift toward broader adoption of digital assets.
“Stablecoin has a lot of promise as a solution for clients” says KeyCorp CEO Chris Gorman during a discussion on recent cryptocurrency legislation with @carlquintanilla, @davidfaber and @SaraEisen.https://t.co/jWej2qdO0Z
— Squawk on the Street (@SquawkStreet) July 23, 2025
While the growing role of stablecoins has raised concerns about their potential to drain traditional bank deposits, Gorman acknowledged the risk but noted it is not an immediate threat. Instead, he expressed confidence that the banking industry would adapt over time, especially as digital asset adoption accelerates.
In addition, he pointed to programmable payments as a significant development, stating that blockchain-based automation—such as escrow services—will likely become standard across financial institutions. This reflects his optimism about how blockchain technology can streamline traditional banking operations.
KeyCorp’s move is part of a larger trend among major U.S. banks embracing crypto-related services. JPMorgan Chase has confirmed its plans to offer crypto-backed loans and stablecoin solutions, with CEO Jamie Dimon referring to the technology as “real.” Similarly, Bank of America is actively working on launching its own stablecoin, although CEO Brian Moynihan has yet to announce a timeline.
Meanwhile, Citi CEO Jane Fraser revealed that the $2.6 trillion bank is “very active” in the tokenized deposit space and is considering its stablecoin offering. Morgan Stanley is also closely monitoring stablecoin developments, reflecting a broader shift across Wall Street toward digital asset integration.
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