Overview
- U.S. Bank completed a live intra-company cross-border transfer using its dollar-pegged token USBDC on the Stellar public blockchain in a pilot the bank announced on Sept. 9, 2026.
- The test validated the token’s full lifecycle by minting tokens, executing an on-chain payment, redeeming them for dollars and exercising issuer controls that can freeze accounts or claw back tokens.
- U.S. Bank published the Stellar issuer address for the pilot but did not disclose the amount moved, transaction hash, token supply, reserve backing or whether outside clients can hold or redeem USBDC.
- The bank says it is exploring institutional uses such as 24/7 payments, cross-border treasury, liquidity management and faster collateral movement, while regulatory, reserve and deposit-insurance questions remain unresolved.
- The pilot builds on prior work with the Stellar Development Foundation and PwC and positions U.S. Bank as pursuing a proprietary public-chain token at a time when 21 other institutions are planning a shared dollar token for 2027.