US Bancorp, the parent company of US Bank, has successfully completed a live pilot of its own stablecoin USBDC on the Stellar blockchain, executing a cross-border payment between its North American and European operations. This represents one of the first stablecoins issued by a traditional bank deployed on a public blockchain. The token, built on the bank’s Digital Asset Platform, incorporates freezing and clawback mechanisms in line with regulatory requirements. US Bank partnered with the Stellar Development Foundation and PwC starting in November 2025, having previously served as custodian for Anchorage Digital Bank’s payment stablecoin reserves since October 2025. The stablecoin market remains dominated by Tether (USDT) and Circle (USDC). No commercial launch timeline has been announced to date.
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