Bank-Issued Cash Hits Stellar. New XLM ATH Coming Up?

U.S. Bank just completed their pilot transaction of the brand-new USBDC stablecoin. That’s the major bank’s proprietary U.S. dollar-backed stablecoin, which is tested as a connecting plug between U.S. Bank’s American & European branches for seamless cross-border payments.

Payments Made Easy: Bank Rep Explains Stellar’s Edge

The crypto initiative builds on the strategic relationship between U.S. Bank and the Stellar Development Foundation (SDF). A selection of key features were tested: minting tokens on Stellar, clawback & freezing & real-time payment redemption via XLM Network.

“This live pilot demonstrates our ability to accelerate global cash management and money movement capabilities” explained Gunjan Kedia, Chairman & Chief Executive Officer at U.S. Bank. “We are excited to create value for our clients and harness the power of a new technology within the banking system.”

Combining the Stellar network with U.S. Bank’s expertise in payments, treasury and banking services, these partners continue to evaluate new opportunities to improve how clients move and manage value. There’s still plenty of capital-efficiency related features to be examined, including enhanced liquidity management, collateral mobility & cross-border treasury operations.

What Stellar Holders Are Relying On In The Long-Run

Chart analysts argue that kind of movement isn’t priced in yet. In a recent logarithmic XLM price chart by Chart Nerd, a notable historical pattern emerges: 800-77,000% gains interspersed with 78-97% drawdowns. If that’s the case, the Fibonacci extensions would take Stellar Lumens (XLM) to a new all-time high (ATH) over the next five years, judging from the present Fib setup.