Crypto
US Bank Completes Live Cross-Border Payment with Proprietary Stablecoin
US Bank has completed a live cross-border payment using its proprietary USBDC stablecoin on the Stellar blockchain. The pilot transaction involved moving funds between US Bank entities in North America and Europe, with the stablecoin issued and transferred on the public Stellar network.
The test also validated the bank's internally developed Digital Asset Platform, which connects tokenized assets with its traditional banking infrastructure.
This milestone marks a key step for US Bank as it explores additional uses of its proprietary stablecoin, including cross-border treasury operations, liquidity management, and moving collateral onchain.