US Bank stablecoin debut; Circle buys Tazapay to boost Asia rails

Homepage > News > Business > US Bank stablecoin debut; Circle buys Tazapay to boost Asia rails You’re nobody in finance these days without your own stablecoin, or your own Asia-focused cross-border stablecoin payments firm, or your own stablecoin-based lending platform, apparently. US Bancorp debuts stablecoin; Circle buys remittance firm Tazapay Chelsea-USDC deal has Hong Kongers worried Tether freezes $52 million linked to Asian pig butchering marketplace Iran leaning on USDT to dodge U.S. sanctions Tether, Visa eye stablecoin lending U.S. Bancorp (NASDAQ: USB) has launched its proprietary dollar-backed stablecoin (USBDC) following “the successful execution of a live pilot transaction using USBDC … to enable a cross-border payment between U.S. Bank entities in North America and Europe.” The transaction in question was conducted via the Stellar payments network, in keeping with USB’s announcement last November that it had partnered with Stellar on the then-unnamed stablecoin project. USB CEO Gunjan Kedia said the pilot “demonstrates our ability to accelerate global cash management and money movement abilities.” The pilot was intended to evaluate “minting, payment redempti...