The 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 real-world capabilities in digital asset products.
Mike Villano, senior vice president and head of digital asset products at US Bank, revealed details of the initiative during a side event hosted by the bank at the Money 20/20 conference. Although stablecoins promise operational benefits, the bank is focused on meeting compliance requirements.
“Stablecoins enable faster and cheaper payments, 24/7. And that’s true from the start. But for bank customers, we need to think about other protections,” Villano said, emphasizing the need to know your customer processes and the possibility of freezing assets. He was particularly attracted to Stellar’s native gel support.
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Image copyright: American Bank
