U.S. Bank Completes Live Cross-Border Transaction with Stablecoin USBDC

U.S. Bank has completed a live cross-border transaction using its own stablecoin, USBDC, on the Stellar blockchain.

The pilot tested token minting, redemption, and recovery functions, as well as the bank's internal digital asset platform.

Gunjan Kedia, president and CEO of U.S. Bank, noted that the pilot demonstrates the bank's ability to accelerate cash management.

The test aims to capitalize on the growth of digital asset payments in the traditional banking sector, with stablecoins gaining traction for international payments, remittances, and corporate treasury management.

U.S. Bank is exploring uses of USBDC in cross-border treasury operations, liquidity management, and collateral transfers, but did not specify a commercial launch date or timeline.