Lloyds and Visa settle $750,000 cross-border payments using USDC
Lloyds Banking Group and Visa completed a seven-day live pilot using USDC to settle $750,000 of cross-border U.S. dollar payment obligations, acquiring the stablecoin via UK-regulated exchange Archax and booking the volume through Lloyds Corporate Markets in Jersey. Funds reached Visa in the United States in under one hour, including transactions sent over the weekend, a contrast with conventional cross-border settlement that can take a day or longer outside banking hours. The trial focused on institutional settlement rather than consumer payments, tested interoperability between a Canton node and a public blockchain, and did not announce any commercial rollout.
Stablecoin USDC settled $750,000 cross-border obligations in under one hour.
Context
Banks often have cut-off times, weekends and holidays that delay settlements. Lloyds and…
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