Visa and Lloyds Banking Group have successfully completed a stablecoin cross-border settlement pilot totaling approximately $750,000, with funds settling in roughly one hour including over weekends. This marks Visa's first stablecoin settlement trial with a major UK banking group.
During the seven-day pilot, Lloyds purchased USDC via UK-regulated exchange Archax to settle with Visa. The test verified transactions on both the Canton private chain and public blockchains, demonstrating cross-chain interoperability for institutional settlements.
Lloyds Bank and Visa Complete $750,000 Stablecoin Cross-Border Settlement Pilot
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