Lloyds Banking Stock Dips Amid Stablecoin Settlement Pilot Success
Lloyds Banking Group's stock closed at EUR 1.25 on September 30, down 1.57 percent from its prior close of EUR 1.27. This decline is according to after-hours trading data provided by Lang & Schwarz.
The bank also announced a successful seven-day pilot project with Visa, where stablecoins were used to settle $750,000 in payment obligations. Funds were transferred to Visa within an hour, including over the weekend, using USDC purchased through Archax.
Notably, this pilot tested settlement across both private and public blockchain environments.
Separately, Lloyds' Business Barometer showed a significant drop in business confidence, falling 12 points to 41 percent. Economic optimism declined by 18 points to 31 percent, while 57 percent of surveyed firms still expected output to increase over the year ahead.