Deployments · platform by U.S. Bank

U.S. Bank USBDC stablecoin pilotNew

USBDC is U.S. Bank's own dollar-backed stablecoin, issued on the public Stellar network. After testing custom stablecoin issuance on Stellar from late 2025, the bank made a live cross-border payment in September 2026 between its North American and European entities, testing minting, redemption, freezing and clawback and its in-house Digital Asset Platform. It is a pilot: no client access, reserve details or amounts have been published.

Pilot since 9 Sep 2026^[1]i — One live internal cross-border payment; not offered to clients. · Reviewed 24d ago i

Assets

Stablecoin^[1]

Bank-issued dollar-backed stablecoin with freeze and clawback controls

Networks

Stellar Public, permissionless^[1][3]

Use cases i

Cross-border payments^[1]Treasury management^[1]

Jurisdictions

United States

Participants

• U.S. BankIssuer, Operator, Platform provider^[1]United States
• Stellar Development FoundationTechnology provider^[1]United States
• PwCLegal or professional adviser^[2]United States

Likely relevant regulation i

• US federal banking agencies' framework for bank crypto-asset, stablecoin and tokenisation activitiesUnited States
• GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act)United States

Assets

• IssuesUSBDC (USBDC)^[1]

Timeline

1. Happened 9 Sep 2026 · First transaction · recorded 15 Oct 2026
   U.S. Bank makes a live cross-border USBDC payment between its North American and European entities on Stellar.^[1][2]
2. Happened 25 Nov 2025 · Announcement · recorded 15 Oct 2026
   U.S. Bancorp says it is testing its own stablecoin on Stellar, citing Stellar's freeze and clawback features.^[3]

Sources i