Odaily Planet Daily reports: Lloyds Banking Group and Visa have completed a pilot for real-time cross-border settlement using stablecoins. This is the first stablecoin settlement trial conducted by Visa with a major UK banking group. During the seven-day pilot, Lloyds Bank purchased USDC through the UK-regulated exchange Archax and settled $750,000 to Visa, with funds—including those transferred over weekends—arriving within one hour; the settlement was routed through Lloyds’ Jersey branch to Visa in the United States. The pilot was successfully executed on both the Canton private blockchain and the public blockchain, verifying cross-chain interoperability.
Lloyds Bank and Visa Complete $750,000 Stablecoin Cross-Border Settlement Pilot
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Summary
Lloyds Bank and Visa conducted a seven-day pilot for a $750,000 stablecoin cross-border settlement. Lloyds used USDC via Archax and settled funds with Visa in under one hour, including weekends. The transfer was routed through Lloyds’ Jersey branch to Visa in the U.S. The trial operated on Canton and a public blockchain, verifying cross-chain compatibility. On-chain reports highlight the trial’s real-time execution and operational efficiency. No exchange hack was reported during the process.
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