U.S. Bank Completes Live Cross-Border Payment with Stellar-Backed Stablecoin

U.S. Bank has successfully completed a live cross-border payment using its proprietary U.S. dollar-backed stablecoin, USBDC, on the Stellar blockchain.

The pilot enabled the transfer of value between U.S. Bank entities in North America and Europe, demonstrating on-chain settlement while maintaining integration with the bank's existing finance, risk, compliance, and operations infrastructure.

The pilot evaluated minting, payment, redemption, freezing, and clawback functions, as well as the bank's internally developed Digital Asset Platform.

U.S. Bank Chairman and CEO Gunjan Kedia stated that the pilot demonstrates the bank's ability to accelerate global cash management and money movement capabilities.