Which bank tested stablecoin on Stellar?

TLDR

U.S. Bank (U.S. Bancorp) is the bank testing a stablecoin on the Stellar network.

1. Reported this week, U.S. Bank is piloting issuance of a USD stablecoin on Stellar. See the coverage by The Block.
2. The bank cited Stellars built-in freeze and clawback controls as reasons to test on that chain, supporting compliance needs, per Yahoo Finance.
3. The pilot involves PwC and the Stellar Development Foundation, indicating a bank?grade approach to tokenized money rails, as noted by Decrypt.

Deep Dive

1. Who and What

U.S. Bank, Americas fifth-largest bank, is testing issuance of its own stablecoin on Stellar. It framed the initiative as exploring blockchain as an alternative payment rail, with a focus on programmable money and compliance capabilities, according to The Block.

2. Why Stellar

The bank pointed to protocol?level controls on Stellar, particularly the ability to freeze assets and unwind transactions, which align with KYC and consumer protection needs in a banking context. This rationale was highlighted in interviews and summaries covered by Yahoo Finance.

3. Partners and Implications

The pilot includes PwC and the Stellar Development Foundation, signaling an institutional, audited approach to testing tokenized deposits or stablecoins in a regulated environment. The move also sits within a broader trend of major banks experimenting with on?chain money movement, as detailed by Decrypt.

Conclusion

The short answer is U.S. Bank. The deeper takeaway is that a top U.S. bank chose Stellar for its protocol?level controls that map to bank?grade compliance. If pilots progress, expect more banks to evaluate public?chain stablecoin rails where controls, auditability, and settlement speed align with their risk frameworks.