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U.S. Bank successfully tests its proprietary dollar-backed stablecoin USBDC for live cross-border payments
U.S. Bank has successfully tested USBDC, its proprietary dollar-backed stablecoin, in a live cross-border payment between its North American and European operations. The transaction ran on the Stellar blockchain while remaining integrated with the bank’s compliance and risk systems. The bank is exploring stablecoin applications including 24/7 payments, liquidity management, cross-border treasury operations and faster settlement.
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