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FollowingBank of America completes USBDC cross-border payment pilot based on Stellar blockchain
U.S. Bank, the fifth largest commercial bank in the United States, announced that it has successfully completed a real-time cross-border payment transaction on its own stablecoin USBDC. The stablecoin is deployed on the Stellar blockchain network.
This pilot enabled the transfer of funds between American banks and European entities, and the USBDC was issued and transferred on the public Stellar network. At the same time, the test also verified the casting, redemption, freezing and recovery functions of stablecoins, and integrated them with the bank's existing risk, compliance and operation systems.
The bank said on Wednesday that the deal validates Bank of America's internally developed digital asset platform that connects tokenized assets to traditional banking infrastructure. The Minneapolis, Minnesota-based bank is exploring more application scenarios, including cross-border treasury operations, liquidity management and linking collateral.
This pilot is based on Bank of America's broader digital asset strategy. In October 2025, the bank established a special "Digital Asset and Fund Movement Department", focusing on stablecoin issuance, encrypted asset custody, asset tokenization and digital fund circulation.
As the sixth-largest financial institution in the United States by asset size, Bank of America has tested the issuance of custom stablecoins on at least the Stellar network since November 2025, and has cooperated with PricewaterhouseCoopers (PwC) and the Stellar Development Foundation to advance related work.
Banking industry accelerates deployment of stablecoins
Although the U.S. banking community has reservations about allowing stablecoin issuers and crypto platforms to provide revenue or rewards, some industry giants are actively promoting their own stablecoin projects.
On September 1, 2024, 21 major financial institutions, including Bank of America, Citigroup, Goldman Sachs, Deutsche Bank and UBS, announced plans to establish a new company to issue stablecoins. The group plans to launch a dollar-denominated stablecoin in the first half of 2027 and subsequently expand to other G7 currencies. The token is expected to be available in wholesale, institutional and retail markets, covering areas such as cross-border payments and digital asset settlement.
Fidelity also launched Fidelity Digital Dollar (FIDD) in February this year through its national trust bank, Fidelity Digital Assets, which is open to retail and institutional investors. According to DefiLlama data, as of the time of writing, FIDD had approximately US$50 million in circulation.
