U.S. Bank Launches Live Pilot of Dollar-Backed Stablecoin
- U.S. Bank executed a live pilot of its stablecoin on the Stellar network.
- The transaction was completed between North American and European entities.
- The bank’s Digital Asset Platform supports minting, redemption, freezing, and clawback functions.
- U.S. Bank is the sixth-largest bank in the U.S., with assets totaling $638.38 billion.
This pilot aims to enhance global cash management and money movement capabilities using blockchain technology. Future applications for the stablecoin may include liquidity management and cross-border treasury operations.
The successful execution of this pilot underscores U.S. Bank’s commitment to leveraging digital assets while ensuring client safety and compliance. (Source)
