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Lloyds Completes First Stablecoin Settlement Pilot with Visa Using USDC

Guavy AI Editorial Team
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Lloyds Banking Group has completed a seven-day live pilot using USDC to settle $750,000 in payment obligations with Visa.

The trial, which ran from start to finish over seven days, used Lloyds' own Canton node and Visa's support on a separate public blockchain. This allowed for faster settlement times, with funds reaching Visa in under an hour - even on weekends.

Peter Left, Head of Digital Assets at Lloyds Banking Group, said the test moved the work beyond theory and provided valuable insights into real-world capabilities.

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