US Bank Tests Stablecoin Issuance on Stellar, Raising Hopes for an XLM Price Recovery

US Bank, a major US commercial bank, has begun testing custom stablecoin issuance on the Stellar network, signaling a significant milestone for Stellar's reliability and performance for institutional use. Mike Villano of US Bank noted that Stellar's base layer allows for asset freezing and transaction unwinding, crucial protections for bank customers. This development, alongside the AUDD stablecoin surpassing $1 billion in organic transactions on Stellar, fuels optimism for greater institutional adoption and an XLM price recovery. Furthermore, Stellar is advancing its technical capabilities with the launch of X-Ray (Protocol 25), introducing infrastructure for zero-knowledge (ZK) privacy applications, aligning with institutional trends favoring privacy-focused blockchains. Technically, XLM is positioned on strong support, having repeated a falling wedge pattern and flipped the 200-week EMA to support near $0.20, while on-chain metrics show rising DeFi demand with Total Value Locked (TVL) hitting a new high of $168.8 million.

(Source：BeInCrypto)