U.S. Bank Launches Live Pilot for Its Stablecoin USBDC on Stellar Blockchain

U.S. Bank has successfully executed a live pilot transaction utilizing its proprietary stablecoin, USBDC (U.S. dollar-backed). The bank's Digital Asset Platform facilitated the transfer of value on-chain while maintaining integration with U.S. Bank's core finance, risk, compliance, and operations infrastructure.

The pilot transaction was completed on the Stellar blockchain, leveraging the network's 24/7 transaction capabilities to enable a cross-border payment between U.S. Bank entities in North America and Europe.

Gunjan Kedia, chairman and chief executive officer at U.S. Bank, stated that 'this live pilot demonstrates our ability to accelerate global cash management and money movement capabilities.'