Bank of America issues USBDC on Stellar blockchain, completes cross-border payment testing

Bank of America issues a stablecoin USBDC on the Stellar blockchain and uses it to complete cross-border payments between North American and European entities. This pilot transaction was completed on the Stellar network and connected to the bank's financial, risk, compliance, and operational systems. Test and verify the casting, payment redemption, freezing, and recovery functions of USBDC, as well as validate the digital asset platform developed internally by Bank of America for issuing, managing, and transferring tokenized assets, and connecting traditional banking infrastructure with blockchain networks.