U.S. Bank Pilot Fuels Stellar Price Surge Amid Institutional Adoption
Stellar's price surged 3.34% over the past day due to several key factors, including the news of U.S. Bank's live pilot of its USBDC stablecoin on the Stellar network.
The bank has successfully completed a cross-border payment between its North American and European entities using the USBDC stablecoin, which is issued by the bank on the Stellar platform. This move marks 'one of the first bank-issued stablecoins deployed on a public blockchain,' according to reports.
U.S. Bank's CEO and digital-assets head described this as a step towards faster, 24/7 cross-border treasury operations on Stellar, further reinforcing the network's core value proposition as institutional cross-border plumbing.
In addition to the U.S. Bank news, several other developments have contributed to the surge in Stellar's price. These include the existing use case of real-world assets (RWA) on the network, with around $3.3-3.5 billion dollars in RWA collateral already hosted by Stellar.
Furthermore, DTCC plans to connect its tokenization service to Stellar, with first tokenized traditional assets expected in 2027. This move strengthens the perception that Stellar is being chosen as a settlement rail by 'serious' institutions.