U.S. Bank Tests Custom Stablecoin on Stellar Network: Embracing Digital Payments in Finance

The U.S.’s fifth-largest commercial bank has embarked on a pioneering pilot program, exploring the issuance of custom stablecoins on the Stellar blockchain network. This move marks another significant step forward as traditional finance embraces digital payment infrastructure. The initiative, conducted in partnership with PwC and the Stellar Development Foundation during Money 20/20’s podcast ‘The Tokenized Future of Banking,’ focuses on safely issuing programmable money on public blockchains while fulfilling regulatory requirements.