U.S. Bank Launches USBDC on Stellar

U.S. Bank has launched the stablecoin USBDC on the Stellar network. A first test for cross-border payments between North America and Europe has been successfully conducted. USBDC is one of the first stablecoins from a bank on a public cryptocurrency network. During the pilot, features such as minting, redeeming, freezing, and retrieving coins were tested, demonstrating the functionality of the bank's internal systems. Chairperson Gunjan Kedia called the pilot a success and emphasized the potential to accelerate global money management. U.S. Bank, based in Minneapolis and one of the largest banks in the U.S., previously collaborated with Stellar in November. It is still unclear when USBDC will be widely available, as it is currently only being used for testing purposes. U.S. Bank is exploring opportunities for international asset management and moving collateral with 24/7 transactions.

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