TREE NEWS update: A U.S. bank said Wednesday it moved value between its North American and European entities using USBDC, a dollar-backed token it issued on Stellar. The pilot tested minting, redemption, freezing and clawback. XLM traded at $0.18, down 3.1% on the day.
U.S. Bank Pilots Its Own Dollar Stablecoin on Stellar
AI take
The notable detail is not the token but the feature set: minting, redemption, freezing and clawback all tested in one pilot. That is the control toolkit a regulated bank needs before it treats a public chain as settlement infrastructure, and it puts Stellar in a compliance-oriented lane rather than a speculative one. The XLM price move suggests the market read it as operational news, not a demand catalyst. Whether other banks adopt a similar issuance model is the open question.
Generated by AI for reference only.
Share on WeChat
Open WeChat → Scan → then tap "…" to send to a chat or Moments.
Tap "…" in the top-right corner to send to a chat or share to Moments.
Related News
3h ago
Texas Brothers Sentenced to 15 Years for Armed Crypto Robbery and Kidnapping
3h ago
Kalshi and Polymarket Diverge on Resolution and Withdrawal Rules
3h ago
Origin Restores OGN Liquidity After Curve Pool Withdrawal
3h ago
CertiK Puts 2026 Crypto Losses at Record $9.2 Billion
4h ago
Lido DAO Revenue Hits $605,000 on Execution-Reward Windfall
5h ago
Chainalysis flags DeFi receipt-token route in Binance hack