U.S. Bank Trials Tailored Stablecoin on Stellar Network Amid Wall Street's Adoption of Digital Payments

U.S. Bank's Stablecoin Initiative: U.S. Bank is testing custom stablecoins on the Stellar blockchain, collaborating with PwC and the Stellar Development Foundation to explore regulatory-compliant programmable money issuance by traditional banks.

Growing Institutional Interest: Major financial institutions, including Citigroup and JPMorgan, are entering the stablecoin market, driven by increasing transaction volumes and the need for efficient cross-border payment solutions.

Market Growth Projections: The stablecoin market is experiencing rapid growth, with transaction volumes reaching $625 billion and total issued stablecoins expected to exceed $400 billion by year-end, potentially handling $1 trillion in cross-border payments by 2030.

Regulatory Developments: The GENIUS Act in the U.S. and Europe's MiCA framework are establishing clearer regulatory environments for stablecoins, encouraging traditional financial institutions to adopt this technology as a vital component of modern payment systems.