Visa and Lloyds Test Stablecoin Settlement for Faster Cross-Border Payments

Visa and Lloyds Banking Group have completed a live pilot exploring how stablecoins can support faster, more transparent, and flexible cross-border transactions.

The seven-day pilot involved a series of US dollar settlement obligations totalling $750,000. Lloyds used USDC purchased through Archax to complete the settlements, which were then transferred to Visa in the US.

Funds reached Visa in under an hour, including during the weekend, demonstrating how blockchain-based settlement can improve speed and flexibility.

Peter Left, Head of Digital Assets at Lloyds Banking Group, said: 'Stablecoins could be particularly valuable for cross-border payments, where moving money between markets, currencies, and infrastructures can add time and complexity.'