U.S. Bank, the fifth-largest commercial bank in the United States and a subsidiary of U.S. Bancorp, said it has successfully completed a real-time cross-border payment test using its own dollar stablecoin, USBDC, according to CoinDesk. The transaction was carried out between the bank’s North American and European entities through the Stellar blockchain.
Pilot tested core USBDC functions
The report said USBDC is among the first bank-issued stablecoins deployed on a public blockchain. U.S. Bank said the pilot validated several functions tied to the token, including minting, payment redemption, freezing and clawback.
The test also examined the bank’s in-house digital asset platform, which serves as the base for issuing, managing and transferring tokenized assets. According to the report, the platform is built to connect traditional banking infrastructure with blockchain networks, while USBDC’s 24/7 transaction capability is intended to close gaps in the global banking system.
CEO says live test showed faster fund movement
Gunjan Kedia, chairman and chief executive officer of U.S. Bank, said the live pilot demonstrated the bank’s ability to accelerate global cash management and the movement of funds.
Stellar partnership underpins next use cases
The test was conducted under U.S. Bank’s strategic partnership with the Stellar Development Foundation. Future use cases cited in the report include liquidity management, collateral transfers and cross-border treasury operations.
Banks step up stablecoin plans as regulation advances
CoinDesk also said banks are moving faster into stablecoins as regulatory progress continues globally. Last week, 21 financial institutions, including Bank of America, Citi, Goldman Sachs and UBS, said they planned to form a company to issue a stablecoin, with a dollar token expected in the first half of 2027.