U.S. Bank Leverages Stellar Network for Proprietary Stablecoin Pilot

U.S. Bank, the fifth-largest bank in the United States, has successfully completed a live cross-border payment using its proprietary USBDC stablecoin on the Stellar network.

The pilot, which took place exactly seven days before Circle Arc's mainnet launch, demonstrates the bank's ability to accelerate global cash management and money movement capabilities.

U.S. Bank's Chairman and CEO, Gunjan Kedia, framed the development as a tactical advancement, while Jamie Walker, Head of Digital Assets and Money Movement at U.S. Bank, emphasized the bank's conservative approach to innovation.

The pilot highlighted essential functions including minting, redemption, freezing, and clawback capabilities, which are required to bridge public blockchain technology with rigid demands of bank-grade compliance and risk management.