US Bank Proves Cross-Border Payments with Custom Stablecoin on Stellar

U.S. Bank has successfully tested cross-border payments using its own stablecoin, USBDC, on the Stellar blockchain.

The test involved transactions between U.S. Bank's entities in North America and Europe, and demonstrated the integration of the bank's existing infrastructure with on-chain asset transfer capabilities.

The test also validated various functions of the USBDC, including issuance, redemption, freezing, and clawback, as well as the bank's own Digital Asset Platform.

U.S. Bank is considering future applications for the technology, including advanced liquidity management, collateral transfer, and cross-border asset management.