Stellar Network Wins U.S. Bancorp Stablecoin Pilot Thanks To Compliance Features

• U.S. Bank is testing a proprietary stablecoin on the Stellar blockchain for institutional payments.
• The bank selected Stellar for its compliance tools, including the ability to freeze and claw back assets.
• This follows the bank’s September resumption of Bitcoin custody services for fund managers.

U.S. Bancorp has begun tests for a proprietary stablecoin on Stellar, one of the leading public networks built for asset tokenization. Bloomberg first reported the development, with confirmation from the Minneapolis institution.

The institution recently formed a dedicated digital assets and money movement unit to build products for stablecoin issuance and crypto custody. President and CEO Gunjan Kedia noted in an October call that the bank now studies two areas, i.e., safe storage of digital assets and stablecoin payments.

She said that the appetite for payment use case…

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