ChainCatcher report, according to The Defiant, the UK banking group Lloyds and payment giant Visa completed a $750,000 USDC transfer in a cross-border settlement pilot. The test, lasting seven days, involved funds transferred from Jersey to the United States, taking less than an hour to settle—even over the weekend. During settlement, Lloyds used the Canton Network, while Visa utilized a separate blockchain. The pilot successfully executed cross-border fund transfers using the stablecoin USDC.
Lloyds and Visa Complete 750,000 USDC Cross-Border Settlement Pilot
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Summary
Lloyds and Visa executed a 750,000 USDC cross-border settlement pilot, marking a significant on-chain milestone. The seven-day test transferred funds from Jersey to the U.S. in under an hour, including over weekends. Lloyds utilized the Canton network, while Visa operated on a separate blockchain. The pilot used USDC for the stablecoin transfer. The trial’s success could accelerate future upgrades to cross-border payment networks.
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