U.S. Banks Enter Stablecoin Race with Live Launch on Stellar Blockchain

U.S. Bank has announced that its proprietary U.S. dollar-backed stablecoin, USBDC, is now live on the Stellar blockchain after completing a cross-border transaction between North America and Europe.

The transaction was integrated with the bank's existing finance, compliance, risk management, and operational systems, demonstrating the potential for 24/7 money movement through blockchain infrastructure.

This milestone comes as some of the world's largest banks prepare their own digital-dollar strategies, including a jointly issued dollar stablecoin that could launch in 2027.