U.S. Bank Completes Cross-Border Payment on Stellar Blockchain

U.S. Bank announced that on September 9, it completed a cross-border payment between entities in North America and Europe using its self-issued USD stablecoin, USBDC, on the Stellar blockchain. The bank manages assets totaling $445.4 billion as of June 2026. This transfer was conducted on an open network rather than through a closed private ledger and remains connected to U.S. Bank's existing systems. U.S. Bank CEO Gunjan Kedia stated that this pilot demonstrates the ability to accelerate global cash management and fund transfers. The bank's digital asset platform can assess stablecoin minting, payment redemption, freezing, and rollback functions. Jamie Walker, head of digital assets and fund transfers, noted that this pilot is another step in its digital asset strategy.