US Bancorp Launches First Bank-Issued Stablecoin on Public Blockchain

US Bancorp, the parent company of US Bank, has made history by successfully running a live pilot of its proprietary stablecoin, USBDC. The fifth-largest commercial bank in the US executed a cross-border payment between its North American and European operations on the Stellar blockchain.

The pilot tested the full lifecycle of a stablecoin transaction: minting, redemption, and payment execution. It also validated integration with the bank's existing digital infrastructure.

USBDC is positioned as one of the first bank-issued stablecoins deployed on a public blockchain. This distinction matters, as plenty of banks have experimented with permissioned ledgers, essentially private networks where they control every node.