Zelle, the US payments network, is exploring the use of stablecoin technology to facilitate international money transfers. Cameron Fowler, CEO of Early Warning Services, which operates Zelle, highlighted the company's ambition to extend its domestic success to international markets, aiming to offer the same speed and reliability for cross-border transactions. While specific details remain undisclosed, this move represents a significant step in Zelle's global expansion strategy.
The initiative comes as Zelle considers issuing its own stablecoin, a development that could enhance its competitive edge in the international remittance market. Last year, Zelle processed approximately $1 trillion in transactions, underscoring its substantial domestic presence. As other payment networks like PayPal and Wise dominate cross-border payments, Zelle's large customer base could benefit from expanded international transfer capabilities.
Zelle Explores Stablecoin Technology for Global Expansion
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