According to ME News, on September 11 (UTC+8), U.S. Bank, the fifth-largest commercial bank in the United States, announced that on September 9, it completed a cross-border payment between entities in North America and Europe using its proprietary USD stablecoin, USBDC, on the public Stellar blockchain. As of June 2026, the bank managed assets totaling $445.4 billion. This transfer was not conducted via a closed private ledger; instead, USBDC circulated on the open network while remaining integrated with U.S. Bank’s existing systems. U.S. Bank CEO Gunjan Kedia stated that the pilot demonstrated the potential to accelerate global cash management and fund transfers. U.S. Bank disclosed that its digital assets platform supports evaluation of stablecoin minting, payment redemption, freezing, and rollback functionalities. Jamie Walker, Head of Digital Assets and Funds Transfer at the bank, said this pilot represents another step in the bank’s digital assets strategy. (Source: ODAILY)
U.S. Bank Completes Cross-Border Payment via Stellar Using a Self-Issued Stablecoin
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Summary
On September 9 (UTC), U.S. Bank executed a cross-border payment via Stellar using its self-issued USD stablecoin, USBDC. This on-chain transaction marks the first publicly recorded transfer between North American and European entities on the open Stellar network. Integrated with the bank’s existing systems, the test demonstrated real-time fund transfers and stablecoin management. CEO Gunjan Kedia described it as a step toward faster global cash flows. The network upgrade enables minting, freezing, and rollback functionalities on the digital asset platform.
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