US Bank to Launch USBDC Stablecoin After Completing Stellar Test
JOON HYOUNG LEE
Summary
- US Bank said it had completed a real-time cross-border payment test between its North American and European divisions for the launch of its stablecoin USBDC.
- The bank said the test was conducted on the Stellar (XLM) blockchain and was integrated with its existing risk and compliance management systems.
- US Bank said it is reviewing ways to use stablecoins for 24/7 payments, liquidity management, cross-border treasury management, and faster payment and settlement.
Forecast Trend Report by Period
US Bank is launching its own stablecoin.
Walter Bloomberg reported on September 9 that the bank said it had successfully completed a test of its dollar stablecoin, USBDC, for real-time cross-border payments between its North American and European divisions.
The test was conducted on the Stellar (XLM) blockchain and integrated with US Bank's existing risk and compliance management systems.
US Bank is reviewing ways to use stablecoins for 24/7 payments, liquidity management, cross-border treasury management, and faster payment and settlement.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul