Key Takeaways
U.S. Bank completed a live cross-border pilot of its proprietary USBDC stablecoin on the Stellar blockchain, according to BlockchainReporter.
According to BlockchainReporter, U.S. Bank launched its proprietary U.S. dollar-backed stablecoin, USBDC, after completing a live cross-border pilot on the Stellar blockchain. The internal transaction transferred value between U.S. Bank entities in North America and Europe while staying connected to the bank's finance, risk, compliance, and operations systems.
The pilot evaluated issuance and control functions, including minting, payment redemption, freezing, and clawback capabilities through the bank's Digital Asset Platform. U.S. Bank executed the transaction on Stellar due to its global reach, near-instant settlement, and low transaction costs. Chief Executive Gunjan Kedia and Head of Digital Assets and Money Movement Jamie Walker noted that the pilot demonstrates capabilities in global cash management and money movement.
While broader institutional uses such as liquidity management, collateral mobility, and cross-border treasury operations remain exploratory, the release did not state that the token is generally available to customers or provide a date for a commercial rollout, as reported by BlockchainReporter.
Source & Fact-Check Note
This report is synthesized from coverage by BlockchainReporter. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at BlockchainReporter ↗
