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first_img U.S. Bank completes USBDC stablecoin real-time cross-border payment test

According to CoinDesk, U.S. Bank, the fifth largest commercial bank in the United States (a subsidiary of U.S. Bancorp), announced the successful completion of a real-time cross-border payment test based on its own US dollar stablecoin USBDC, with transactions completed via the Stellar blockchain between its entities in North America and Europe. As one of the first bank-issued stablecoins deployed on a public blockchain, USBDC is expected to bridge the gap in the global banking system with 24/7 trading capabilities.The pilot validated the functions of USBDC, including minting, payment redemption, freezing, and recovery, and tested the bank's internally developed digital asset platform, which serves as the foundation for issuing, managing, and transferring tokenized assets, enabling seamless integration between traditional banking infrastructure and blockchain networks. U.S. Bank Chairman and CEO Gunjan Kedia stated that this real-time pilot demonstrates its ability to accelerate global cash management and fund flows.This test is based on the bank's strategic partnership with the Stellar Development Foundation, with future application scenarios including liquidity management, collateral transfer, and cross-border financial operations. As global stablecoin regulation advances, banks are accelerating their entry into the market. Last week, 21 financial institutions, including Bank of America, Citi, Goldman Sachs, and UBS, announced plans to form a company to issue stablecoins, with the expectation of launching a dollar token in the first half of 2027.

Galaxy Research: Coldcard attackers continue to transfer funds, approximately 45% of the stolen assets have entered mixing or cross-chain pathways

Galaxy Research published that the attackers in the Coldcard "Wave 3" attack are still continuously transferring the stolen funds. During this phase, the attackers created 293 2-of-2 multi-signature wallets for each victim's assets. The first batch of funds was transferred across chains to Ethereum via THORChain; the latest round of transfers has begun entering the CoinJoin mixing process.Currently, the Wave 3 attackers are processing the largest amounts of stolen funds in order of the stolen amount, having sequentially transferred the funds from wallets ranked 1 to 11. The next 10 wallets that have not yet been transferred hold a total of 30.81 BTC, while wallets ranked 61 to 293 hold a total of 33.77 BTC. So far, the attackers have transferred about 45% of the stolen assets from this exploit, with funds flowing to Ethereum (via THORChain) or entering CoinJoin mixing transactions. Additionally, this fund transfer has revealed a previously unknown wallet: 58 addresses jointly spent in a 2-of-2 multi-signature format identical to that of Wave 3, and these were further transferred by the Wave 3 attackers to a jump address that funds CoinJoin.The on-chain analysis team currently marks this wallet as "cause = open," but believes it likely also belongs to Coldcard victims, which means the number of wallets involved in Wave 3 may increase to 294, raising the previously reported total amount stolen from the Coldcard vulnerability to approximately 1806 BTC. Currently, about 82% of the stolen BTC remains in addresses initially controlled by the attackers, while about 18% has been transferred, with the flow of funds indicating that it may be undergoing laundering processes.
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