Original sourceThe Block
Summary
Lloyds Banking Group and Visa completed a seven-day real-time cross-border pilot settling $750,000 in USDC stablecoin. USDC was purchased through Archax, settled via Lloyds' Jersey corporate market into account, and reached Visa in under an hour, including over the weekend. The trial also tested cr…
Key points
- Banks and payment firms can reference this pilot to assess the feasibility of stablecoin interbank settlement, especially in weekend and cross-chain scenarios.
- A major bank and card network completing cross-chain real-time settlement with real funds signals stablecoins moving from retail payments toward critical wholesale interbank settlement infrastructure.
- If the model can be replicated, corporate cross-border fund transfers could be shortened to tens of minutes and cover weekends, repricing the time cost of traditional correspondent banking.
Editorial note
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