US Bancorp selects Stellar chain for stablecoin pilot
Key Takeaways
- US Bancorp is piloting its own stablecoin on the Stellar blockchain.
- Stellar was chosen for its strong compliance-oriented features like asset freezing and transaction management.
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US Bancorp, a Minneapolis-based financial institution, is testing its own stablecoin on Stellar, a public blockchain focused on facilitating financial transactions and asset tokenization with built-in compliance tools.
The bank selected Stellar for its regulatory-aligned capabilities, including asset freezing and transaction management features that support banking compliance requirements.
US Bancorp has established a digital assets division focused on developing stablecoin issuance and cryptocurrency custody products as part of its expansion into digital assets.
The testing positions US Bancorp among major banks exploring digital asset technologies, with Stellar’s compliance tools serving as a key factor in the blockchain selection for secure financial transactions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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