U.S. Bank Tests Cross-Border Payment with Proprietary Stablecoin

U.S. Bank has successfully executed a live pilot transaction using its proprietary dollar-backed stablecoin, USBDC, to enable a cross-border payment between U.S. Bank entities in North America and Europe.

The bank used the Stellar public blockchain for this transfer while keeping the token connected to its finance, risk, and compliance systems.

The pilot tested minting, redemption, freezing, and clawback functions through U.S. Bank's Digital Asset Platform, which is designed to support institutional payments.