U.S. Bank Pilots Proprietary Stablecoin USBDC in Cross-Border Transfer on Stellar
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· body · New information from a source
Bank moved its proprietary stablecoin, USBDC, between its North American and European entities in a live pilot on the public Stellar blockchain, according to Cointelegraph.The Defiant reported that the bank said the test exercised the token's minting, redemption, freezing and clawback functions.Stellar's native asset, XLM, was trading at $0.18, down 3.1% on the day, The Defiant noted.Separately, Monument Bank has delayed its rollout of retail tokenized deposits in the UK, citing regulatory issues, according to CoinDesk.The two developments show banks moving at different speeds on blockchain-based settlement: U.S.Bank has advanced to a live cross-border test of its own stablecoin, while Monument Bank has paused its tokenized-deposit plans pending regulatory clarity in the UK.- Bank ran a pilot that moved its proprietary stablecoin, USBDC, between the bank's North American and European entities on the public Stellar blockchain, according to Cointelegraph.
- The bank said the test, reported Wednesday by The Defiant, exercised minting, redemption, freezing and clawback functions for the dollar-backed token.
- The Defiant also noted that Stellar's native asset, XLM, was trading at $0.18, down 3.1% on the day.
- Not every bank's tokenization effort is moving at the same pace.
- CoinDesk reported that Monument Bank has delayed the rollout of its retail tokenized deposits, citing regulatory issues in the U.K.
· summary · New information from a source
U.S. Bank piloted its own stablecoin, USBDC, on Stellar to move funds between its North American and European units; Monument Bank delayed UK tokenized deposits over regulatory issues.- U.S. Bank piloted its own dollar-backed stablecoin, USBDC, on the Stellar network to move funds between its North American and European entities.
· headline · New information from a source
U.S. Bank Tests Proprietary USBDC Stablecoin in Live Stellar Cross-Border Transfer- U.S. Bank Pilots Proprietary Stablecoin USBDC in Cross-Border Transfer on Stellar
Every change made to this story after publication is recorded here automatically. A factual error gets a correction as well, on the corrections page.
U.S. Bank ran a pilot that moved its proprietary stablecoin, USBDC, between the bank’s North American and European entities on the public Stellar blockchain, according to Cointelegraph.
The bank said the test, reported Wednesday by The Defiant, exercised minting, redemption, freezing and clawback functions for the dollar-backed token. The Defiant also noted that Stellar’s native asset, XLM, was trading at XLM trades at $0.18, down 3.1% on the day.
, down XLM trades at $0.18, down 3.1% on the day.
on the day.
Not every bank’s tokenization effort is moving at the same pace. CoinDesk reported that Monument Bank has delayed the rollout of its retail tokenized deposits, citing regulatory issues in the U.K.
Sources: Cointelegraph, The Defiant, CoinDesk
This article is for information only and is not financial advice.
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Story so far 2 updates
- storyU.S. Bank Tests Proprietary USBDC Stablecoin in Live Stellar Cross-Border Transferfirst reported · 3 sourcescointelegraph.com · thedefiant.io · coindesk.com
- storyU.S. Bank Pilots Proprietary Stablecoin USBDC in Cross-Border Transfer on Stellarupdate · 3 sourcescointelegraph.com · thedefiant.io · coindesk.com
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