Crypto
US Bank Completes Live USBDC Payment Pilot on Stellar Blockchain
US Bank has successfully completed a live cross-border payment pilot using its proprietary dollar-backed USBDC stablecoin on the Stellar blockchain.
The bank conducted the transaction between its entities in North America and Europe, testing how USBDC payments can operate alongside existing financial systems.
U.S. Bank used its Digital Asset Platform to support the operations, which included minting, processing, and redeeming the stablecoin.
The pilot evaluated several features required for managing a bank-issued digital asset, including freezing and clawback controls.
Chief Executive Officer Gunjan Kedia reported that the pilot tested faster global cash management and money movement.