U.S. Bank Successfully Completes Live Cross-Border Payment with USBDC Stablecoin
U.S. Bank has successfully completed a live cross-border payment using its proprietary dollar-backed USBDC stablecoin, marking a significant milestone in the bank's digital asset strategy.
The transaction, which took place on the public Stellar blockchain, connected blockchain settlement with U.S. Bank's finance, risk, compliance, and operations infrastructure, allowing for seamless transfer of value on-chain without separating it from internal controls.
The pilot evaluated several key functions required for managing a bank-issued digital asset, including minting USBDC, processing payments, redeeming the stablecoin, freezing, and clawback controls. U.S. Bank used its in-house-built Digital Asset Platform to support these operations, providing a technical foundation for issuing, managing, and transferring tokenized assets.
The bank plans to launch separate dollar and euro stablecoins in 2026 and 2027, respectively, as part of its digital asset strategy. This development comes as major international banks, including Goldman Sachs, Bank of America, Citigroup, and Wells Fargo, have joined plans to create a company to manage a separate dollar stablecoin.