163-Year-Old US Bank Moves Its Own Stablecoin Across Europe

U.S. Bank, the fifth‑largest commercial bank in the United States, announced that it completed a cross‑border transaction using its own stablecoin, USBDC, on the public Stellar blockchain.

Stablecoin Transfer on Stellar

On September 9, the bank moved USBDC from a U.S. entity to a European counterpart, demonstrating the ability to send a digital dollar over an open network while remaining integrated with its existing systems.

Purpose and Platform

The pilot is part of U.S. Bank’s “Digital Asset Platform,” which evaluates minting, payment redemption, freezing and clawback capabilities. The bank described the test as a step toward accelerating global cash‑management and money‑movement services for clients.

Industry Context

Few large banks have conducted similar public‑chain stablecoin transfers. Comparable projects include Société Générale’s EURCV, SoFi Bank’s SoFiUSD, and JPMorgan’s JPMD on Coinbase’s Base network. Earlier in the week, Citi and DBS used a tokenized USD on the SWIFT blockchain network.

Ongoing Collaboration

U.S. Bank’s effort builds on an existing partnership with the Stellar Development Foundation, reflecting a broader digital‑asset strategy aimed at delivering secure, reliable solutions for clients.