U.S. Bank Taps Stellar for Cross-Border Settlement

The XLM price is getting a boost in sentiment due to U.S. Bank's successful pilot of its USBDC stablecoin on the Stellar network.

This was no small test - U.S. Bank, the fifth-largest commercial bank in the United States, used Stellar's public blockchain to move funds between North America and Europe.

The pilot included key features that large financial institutions require, such as minting, redemption, freezing capabilities, clawbacks, and compliance controls.