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XLM U.S., one of the five largest banks in the United States. Bank completes stablecoin pilot on Stellar Network
U.S., one of the leading financial institutions in the United States. Bank has taken remarkable steps in partnering with stablecoin technology and Stellar Networks. The bank completed its first real-time pilot of the USBDC stablecoin, enabling real value transfer between its U.S. and European branches through the public Stellar blockchain. The success of this pilot not only re-ignited the industry's attention to Stellar's application potential in corporate cross-border payments, but also attracted the attention of XLM investors.
Innovative practices based on the open web
U.S. Bank used the USBDC to perform cross-border transfers between branches across the Atlantic. It is worth noting that the bank did not choose to build a private blockchain, but adopted the public Stellar network, which became a highlight of this incident. During the pilot process, the platform was deeply integrated with the bank's internal risk management and compliance systems. This move aims to preserve the high-speed transmission and high accessibility advantages brought by public blockchain while meeting the needs of regulated financial institutions for strict control mechanisms.
Jamie Walker, head of digital assets at U.S. Bank, said the USBDC's infrastructure has necessary controls built into it to allow funds to be frozen or withdrawn in certain circumstances. These features provide banks with a means to intervene when handling erroneous transfers or transactions that require compliance review. Denelle Dixon, CEO of Stellar Development Foundation, pointed out that this case is of great significance for companies to adopt blockchain technology. She emphasized that the U.S. Bank pilot demonstrated that regulated financial institutions can safely leverage Stellar's open infrastructure.
Focus on Global Fund Flow Efficiency
Gunjan Kedia, CEO of U.S. Bank, confirmed the success of the pilot project and emphasized the potential value of the technology in the bank's global cash management strategy. The system is expected to reduce reliance on traditional interbank intermediaries, allowing faster, round-the-clock flow of capital between different regions. It is reported that in the initial stage, USBDC will be mainly used for internal clearing and treasury operations within banks, so it is expected that the system will not launch large-scale stablecoin products to individual users in the short term.
Stellar was selected mainly due to its optimized underlying architecture for cross-border transfers and significant growth in the real-world asset (RWA) field. Data shows that the total value of real-world assets in the Stellar ecosystem is approximately US$3.32 billion. In addition to stablecoins such as USDC, the existence of tokenized financial products on the Internet further consolidates its position in the institutional finance field. U.S. Bank's testing of true value transfer on the public Stellar network also provides an important enterprise-level application example for the XLM ecosystem.
Outlook
U.S. Bank completed the real-time stablecoin pilot on the Stellar network, which is an important demonstration of the application potential of the XLM ecosystem in the institutional finance field. Banks abandon their Private Cloud and choose to disclose their blockchain infrastructure, which has special strategic significance. If future pilots expand to a wider range of treasury management and cross-border payments businesses, it could open a new phase of Stellar's enterprise-level adoption. For XLM investors, the follow-up thing worthy of attention is U.S. Whether Bank will expand the scope of the pilot and whether other financial institutions will follow such solutions.
