U.S. · Goldman Sachs · Cointelegraph
U.S. Bank tests proprietary stablecoin in cross-border Stellar transaction
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The pilot moved USBDC between the bank’s North American and European entities on the public Stellar blockchain.
Key facts
- On Sept. 1, 21 major financial institutions, including Bank of America, Citi, Goldman Sachs, Deutsche Bank and UBS, announced plans to form a company to issue stablecoins
- The group plans to launch a US dollar-denominated stablecoin in the first half of 2027 before expanding to other G7 currencies
- The country’s sixth-largest financial institution by assets, U.S. Bank has been testing custom stablecoin issuance on Stellar since at least November 2025, working alongside PwC and the Stellar
- The pilot moved USBDC between the bank’s North American and European entities on the public Stellar blockchain
Summary
U.S. Bank, the fifth-largest commercial bank in the United States, has completed a live cross-border payment using its proprietary USBDC stablecoin on the Stellar blockchain. The pilot moved funds between U.S. Bank entities in North America and Europe, with USBDC issued and transferred on the public Stellar network. The transaction validated U.S. Bank’s internally developed Digital Asset Platform, which connects tokenized assets with its traditional banking infrastructure, the bank said Wednesday. The pilot builds on U.S. Bank’s broader push into digital assets.