Lloyds, Visa test stablecoin cross-border settlement in live pilot using USD 750,000 of obligations

• Lloyds Banking Group, Visa completed a seven-day live pilot using stablecoins to settle cross-border payment obligations.
• US$ 750,000 of US dollar settlement obligations reached Visa in under an hour, including over the weekend.
• Trial tested round-the-clock settlement as an alternative to traditional cross-border processes that can take a day or more outside banking hours.
• Lloyds used USDC bought via Archax; transactions were booked through its Corporate Markets branch in Jersey, then transferred to Visa in the US.
• Pilot tested interoperability across private Canton and a separate public blockchain, targeting broader use of digital money in settlement operations.

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