U.S. Bank Tests Stablecoin on Stellar
U.S. Bank has completed a pilot transaction involving its own USDBC stablecoin on the Stellar network. The dollar-backed token is being tested as a tool for faster cross-border payments between the bank’s U.S. and European operations. The pilot covered token minting on Stellar, freezing and clawback functions, as well as real-time payment redemption. The initiative is being developed with the Stellar Development Foundation and provides another example of a major bank testing public blockchain infrastructure for financial operations. DailyCoin also highlights long-term bullish expectations for XLM among some analysts, although forecasts for a new all-time high remain speculative rather than confirmed. The growing use of Stellar by traditional financial institutions could become an important factor for the ecosystem. Track XLM and other cryptocurrency rates and exchange your assets on xbit.money.