Lloyds, Visa test stablecoin cross-border settlement in live pilot using $750,000 of obligations
V•Lloyds Banking Group and Visa completed a seven-day live pilot settling cross-border payment obligations with stablecoins. $750,000 in U.S. dollar obligations reached Visa in under an hour, including over the weekend.
1. Seven-day settlement pilot
Lloyds Banking Group and Visa completed a seven-day live pilot using stablecoins to settle cross-border payment obligations. The trial moved $750,000 in U.S. dollar settlement obligations to Visa in under an hour, including over the weekend. Lloyds used USDC bought via Archax, booked transactions through its Corporate Markets branch in Jersey, and transferred them to Visa in the United States. The pilot tested interoperability between the private Canton network and a separate public blockchain.
