U.S. Bank, the fifth-largest commercial bank in the U.S., has started testing the issuance of custom stablecoins on the Stellar network, according to a Tuesday announcement. Teaming up with PwC and the Stellar Development Foundation (SDF) for the initiative, the bank aims to explore whether a traditional bank can safely issue programmable money on a public blockchain, according to the blog post. U.S. Bank’s digital asset head, Mike Villano, highlighted in the blog post Stellar’s built-in ability to freez ...

U.S. Bank has begun testing custom stablecoin issuance on the Stellar blockchain, marking one of the most progressive moves yet by a major U.S. financial institution toward programmable digital money. The development was announced during the bank’s Money 20/20 podcast episode, The Tokenized Future of Banking, featuring leaders from U.S. Bank, SDF, and PwC discussing how tokenization will reshape the future of financial services. The initiative shows a growing shift among major financial institutions towa ...