US Bank is testing stablecoin issuance on the Stellar Network in partnership with the Stellar Development Foundation (SDF) and PwC, moving from concept to building actual capability in digital asset products.
Mike Villano, SVP and Head of Digital Asset Products at US Bank, revealed details of the initiative during a bank-hosted side event at the Money 20/20 conference. While stablecoins promise operational benefits, the bank’s focus is on meeting compliance requirements.
“Stablecoins provide faster, cheaper, 24/7 payments. And that’s true out of the box. But for bank customers, we have to think about other protections,” Villano said, noting the need for know your customer processes and the ability to freeze assets. He was particularly attracted to Stellar’s native support of freezing.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
