Overview
- U.S. Bank has begun a proof-of-concept to issue a stablecoin on the public Stellar blockchain.
- PwC and the Stellar Development Foundation are partnering with the bank to validate technical, operational, and governance controls.
- The pilot focuses on whether on-chain features such as asset freezing and transaction reversibility can satisfy KYC/AML requirements.
- Head of digital asset products Mike Villano describes blockchain as an alternative payment rail and cites Stellar’s base-layer controls as a key draw.
- Targeted use cases under evaluation include faster, lower-cost cross-border payments and corporate treasury management, with no commercial rollout announced.