U.S. Bank completes USBDC cross-border payment pilot on Stellar

U.S. Bank has conducted a live cross-border payment pilot using its proprietary U.S. dollar-backed stablecoin, USBDC. The transaction, announced on September 9, involved moving value between U.S. Bank entities in North America and Europe on the Stellar public blockchain. This was an intercompany pilot, not a customer transaction, and the announcement did not disclose the amount moved or plans for customer access. While the payment crossed regions, both ends remained within U.S. Bank's corporate structure, limiting its implications to internal cross-border payments rather than settlements with external banks or customers. The pilot tested minting, payment redemption, freezing, and clawback functions, allowing U.S. Bank to manage the asset's lifecycle on a public blockchain. The transaction was integrated with the bank's core finance, risk, compliance, and operations infrastructure, validating the connection between traditional banking and blockchain networks. The Stellar Development Foundation supported the test, and U.S. Bank is exploring further institutional applications, including liquidity management and cross-border treasury operations. Currently, USBDC serves as evidence of a working institutional pilot rather than a stablecoin available for public use.

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