US Bank Pilots Custom-Built Stablecoin on Stellar Blockchain
US Bank has successfully completed a live pilot transaction using its proprietary US dollar-backed stablecoin, USBDC. The pilot utilized the Stellar blockchain and involved transferring value between North America and Europe.
The pilot evaluated various capabilities of the bank's Digital Asset Platform, including minting, payment redemption, freezing, and clawback. These features enable the management and movement of tokenized assets while maintaining integration with traditional banking infrastructure.
According to Gunjan Kedia, chairman and CEO at US Bank, 'This live pilot demonstrates our ability to accelerate global cash management and money movement capabilities.' The bank is exploring potential applications for blockchain technology in areas such as liquidity management, collateral mobility, cross-border treasury operations, and institutional use cases.