US Bank Launches Its Own Stablecoin on Stellar Network

U.S. Bank has made history by issuing its own stablecoin on the Stellar network. The bank used USBDC, a dollar-backed token, to complete a live cross-border payment between its North American and European entities.

The pilot tested various functions, including minting, redemption, freezing, and clawback, all while maintaining the controls that a supervisor would ask for. This move puts bank money on the same rails as USDT and USDC.

U.S. Bank's Digital Asset Platform, which issues and moves tokenized assets, was also validated during this test. The platform links the bank's existing infrastructure to blockchain networks, allowing for faster global cash management and money movement capabilities.