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U.S. Bank completes cross-border payment using its USBDC stablecoin
The pilot tested minting, redemption, and permissioned controls like freezing and clawback while settling on Stellar.
U.S. Bank said it completed a live cross-border payment between its North American and European entities using USBDC, a dollar-backed stablecoin the bank issued on Stellar.
The bank said the transaction settled on Stellar while remaining connected to its core finance, risk, compliance, and operations systems. It also said the pilot validated its internally developed Digital Asset Platform, which issues and moves tokenized assets and links existing infrastructure to blockchain networks.
U.S. Bank said the trial included minting and payment redemption, along with supervisor-style controls such as freezing and clawback. The bank did not disclose how much money moved, whether it plans to offer USBDC to clients, where reserves sit, or what backs the token.
The release added that potential uses still under review include liquidity management, collateral mobility, and cross-border treasury operations. XLM was last cited near $0.18, down about 3.1% on the day, alongside the news.