U.S. · Chainlink · CryptoSlate
US Bank moves USBDC across borders on Stellar, but only inside its own walls
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
U.S. Bank has completed a live cross-border payment pilot using USBDC, its proprietary U.S. dollar-backed stablecoin.
Key facts
- The payment moved value between U.S. Bank entities in North America and Europe on Stellar, a public blockchain network used for payments, according to the bank's September 9 announcement
- The Stellar Development Foundation said the network's issuer-control features supported the test
- Also known as "Akiba," Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate
- U.S. Bank has completed a live cross-border payment pilot using USBDC, its proprietary U.S. dollar-backed stablecoin
Summary
01 U.S. Bank completed a live USBDC payment between its North American and European entities. 02 The Stellar pilot tested minting, redemption, freezing and clawback alongside bank controls. 03 No customer access, payment amount or commercial rollout date was disclosed. U.S. The payment moved value between U.S. Bank entities in North America and Europe on Stellar, a public blockchain network used for payments, according to the bank's September 9 announcement.