US Bank Tests Blockchain-Powered Cross-Border Payment with Stablecoin Pilot

U.S. Bank has successfully completed a live pilot transaction using its proprietary U.S. dollar-backed stablecoin, USBDC, to facilitate a cross-border payment between North America and Europe.

The pilot, which utilized the Stellar blockchain, demonstrated the bank's ability to transfer value on-chain while maintaining integration with its core finance, risk, compliance, and operations infrastructure.

According to U.S. Bank Chairman and CEO Gunjan Kedia, this live pilot 'demonstrates our ability to accelerate global cash management and money movement capabilities.'

The initiative also builds on the strategic relationship between U.S. Bank and the Stellar Development Foundation, with future applications under exploration including enhanced liquidity management, collateral mobility, cross-border treasury operations, and other institutional use cases.