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U.S. Bank trials stablecoins on Stellar for secure payments and custody

A major bank bets on blockchain’s future. U.S. Bank’s Stellar pilot could redefine how institutions handle digital payments—with security at the core.

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In this picture, we see the coin in gold and brown color. We see some text written as "The United...
In this picture, we see the coin in gold and brown color. We see some text written as "The United States Of America". It might be a money coin. In the background, it is brown in color and it looks like a carpet.

U.S. Bank trials stablecoins on Stellar for secure payments and custody

U.S. Bancorp is testing stablecoin technology on the Stellar blockchain, focusing on payments and custody services. The bank chose Stellar for its financial focus and added control features. This move aligns with broader interest from traditional banks like PNC Bank and Yahoo Finance in the expanding stablecoin market. U.S. Bancorp's pilot involves processing stablecoin payments and offering custody solutions, leveraging Stellar's built-in ability to freeze or reverse transfers for enhanced security. Other major U.S. banks, such as Citi, Goldman Sachs, and Bank of America, are also exploring stablecoin initiatives. Industry analysts predict strong growth in the stablecoin sector, with traditional financial firms viewing these digital assets as a practical way to transfer value on blockchains. U.S. Bancorp's pilot on Stellar highlights how banks are adapting blockchain for regulated financial use, emphasizing control and compliance. If successful, the project could pave the way for wider adoption of stablecoins in mainstream banking by institutions like U.S. Bank.

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Queens of Technology

This year, 90 teams submitted applications, with 10 making it to the final and presenting their projects to industry leaders - the jury consisted of founders of successful startups and representatives of the venture industry.

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