BACKGROUND: Umbilical cord blood (UCB) has become the second most common source of stem cells for cell therapy. The recent boom in stem cell research and public fascination with promises of stem cell-based therapies, fueled by the media, have led researchers to explore the potential of UCB stem cells in therapy for non-hematological disorders. SOURCES OF DATA: ClinicalTrials.gov database searched with key words ‘cord blood stem cells’ on December 28, 2011. AREAS OF AGREEMENT: As a rich source of the most primitive hematopoietic stem cells, UCB has a strong regenerative potential in stem cell-based-therapy for hematological disorders. AREAS OF CONTROVERSY: Potential of UCB stem cells in therapy for non-hematological disorders. GROWING POINTS: Increasing number of clinical trials with UCB stem cell-based therapy for a variety of diseases. AREAS TIMELY FOR DEVELOPING RESEARCH: A need for standardization of criteria for selection of UCB units for stem cell-based therapy, outcome measures and long-term follow-up.