U.S. Bank Tests USBDC Stablecoin for Real-Time Cross-Border Payments

U.S. Bank completed a real-time cross-border payment test using its dollar-backed stablecoin, USBDC, with transactions executed between its North American and European entities on the Stellar blockchain. The pilot also tested USBDC minting, redemption, freezing and rebate functions while validating the bank’s internally developed digital asset platform. U.S. Bank said it is exploring USBDC for cross-border treasury operations, liquidity management and collateral transfers, but did not disclose when the stablecoin may be offered to clients or commercialized.