US Bank Tests USBDC Stablecoin in Live Cross-Border Payment
U.S. Bank has successfully completed a live cross-border payment using its proprietary USBDC stablecoin on the Stellar blockchain, marking a significant milestone in the bank's digital asset testing program.
The transaction, which took place between U.S. Bank entities in North America and Europe, was conducted on September 9, 2026, and tested the movement of the token as well as the issuer controls that would be retained by the bank.
Reuters reported that the payment was independently confirmed testing of issuance, redemption, freezing, and clawback capabilities, with U.S. Bank using its internally developed Digital Asset Platform to mint, redeem, freeze, and recover the stablecoin units.
The pilot tested issuer controls alongside settlement, connecting the bank's finance, risk, compliance, and operations systems to the platform and assessing whether USBDC could be managed through internal control frameworks while being used for cross-border payments between group entities.