U.S. Bank said it has issued USBDC, a dollar-backed stablecoin, on the Stellar network and completed a real-time cross-border payment pilot between its North American and European entities. The pilot tested minting, freezing, clawback, and payment redemption functions. The transaction settled on Stellar while remaining connected to the bank’s core finance, risk, compliance, and operations systems. The test also validated an internally developed digital asset platform designed to issue and transfer tokenized assets and link the bank’s existing infrastructure with blockchain networks. Chair and CEO Gunjan Kedia said the pilot showed the bank’s ability to accelerate global cash management and the movement of funds. U.S. Bank did not disclose the transfer amount, whether USBDC will be made available to clients, or the composition of the token’s reserves. Potential uses including liquidity management, collateral mobility, and cross-border treasury operations are still under evaluation. The report also noted that real-world asset balances on Stellar have been growing, with Franklin Templeton and DTCC building on the network as well.
U.S. Bank said it has issued USBDC, a dollar-backed stablecoin, on the Stellar network and completed a real-time cross-border payment pilot between its North American and European entities.
The pilot tested minting, freezing, clawback, and payment redemption. The transaction settled on Stellar and stayed connected to the bank’s core finance, risk, compliance, and operations systems.
The test also validated an internally developed digital asset platform used to issue and transfer tokenized assets. The platform links the bank’s existing infrastructure with blockchain networks.
Gunjan Kedia, chair and CEO of U.S. Bank, said the pilot demonstrated the bank’s ability to accelerate global cash management and the movement of funds.
U.S. Bank did not disclose the amount transferred. It also did not say whether USBDC will be opened to clients or provide details on the token’s reserve composition. Possible uses in liquidity management, collateral mobility, and cross-border treasury operations remain under evaluation.
The report added that real-world asset balances on Stellar have been growing quickly, and institutions including Franklin Templeton and DTCC are also building on the network.
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