U.S. Bank Tests Proprietary Stablecoin in Cross-Border Stellar Transaction
Source Summary
U.S. Bank conducted a pilot test moving USBDC, its proprietary stablecoin, between its North American and European entities using the public Stellar blockchain. The transaction demonstrates the bank's exploration of blockchain technology for cross-border payments.
Why it matters
The test shows a major U.S. bank actively experimenting with blockchain-based stablecoins to streamline international fund transfers between its own entities.
