US Bank has successfully completed a live pilot of its proprietary USBDC stablecoin on the Stellar blockchain, executing real-time cross-border payments between its North American and European divisions on September 9. The pilot tested the full lifecycle of the stablecoin: minting, payment execution, redemption, freezing, and clawback functionality. US Bank becomes one of the first major American financial institutions to run a bank-issued, dollar-backed stablecoin on a public blockchain in a live operational setting. CEO Gunjan Kedia emphasized the pilot’s essential role in accelerating global cash management, while Jamie Walker, Head of Digital Assets and Money Movement, highlighted the focus on addressing real client challenges with advanced bank-grade controls. Looking ahead, US Bank has identified future applications for USBDC including 24/7 payments, liquidity management, cross-border treasury operations, and enhanced collateral mobility.
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