$BTC American banks have also started moving money onto public blockchains
Stellar actually has something this time
This time, it’s not just the crypto industry hyping concepts itself
U.S. Union Bank announced that it has completed a real cross-border payment pilot on the Stellar blockchain using its own dollar stablecoin, USBDC
In other words
From North America to Europe,
bank funds
run through the public chain directly for a round
And this time isn’t just a simple transfer
The bank also tested functions like issuing, redeeming, freezing, and recovering stablecoins
And it integrated the original risk control, compliance, and banking systems
That’s interesting
In the past, traditional banks saw blockchain as too risky
Now traditional banks look at blockchain
Hmm... to use it for cross-border payments
It actually seems quite appealing 😂
Stellar’s focus is fast settlement + low-cost cross-border transfers
And what banks may truly care about
may not be “trading crypto”
but rather making the previously complicated, slow, and expensive flow of cross-border funds more efficient
So what does this mean?
Stablecoins are slowly evolving from a crypto-market tool
into an infrastructure option for traditional financial institutions
Of course
This is still only a pilot
and it’s still far from large-scale commercial use
But the direction is becoming clearer and clearer
Wall Street used to research how to invest in Crypto
Now it’s starting to study how to put money onto the chain
This is definitely a long-term positive
Do you think in the future, banks’ cross-border payments
will run extensively on public blockchains?
#usbankcompletescrossborderpaymentpilotonstellar