Stablecoins will soon find their way into US Bancorp’s systems as the lender has begun testing a bank-backed digital currency on the Stellar public blockchain, according to announcements made this week.

The effort is being run with help from the Stellar Development Foundation and consulting firm PwC, and it is being described as an experiment in how a mainstream bank might move dollars on a public ledger.

Stablecoins: Pilot Includes PwC And Stellar Support

According to the bank and project partners, the pilot examines features that matter to regulated finance, such as the ability to freeze an asset or unwind a transaction when needed.

Mike Villano, who leads digital-assets work at US Bancorp, said these controls are a major reason the bank is testing Stellar rather than an alternativ

See Full Page