Visa and Lloyds Bank Complete USDC Cross-Border Settlement Pilot

Lloyds Bank and Visa concluded a live pilot project on September 30, 2026, testing the use of USDC for interbank financial settlement. The seven-day trial processed $750,000 in obligations, with Lloyds acquiring USDC via Archax to transfer funds from its Jersey branch to Visa in the US. The project demonstrated that blockchain-based settlement can significantly improve transaction speed, allowing funds to reach the recipient in under an hour, even outside of traditional banking hours. The test also validated interoperability between Lloyds' private Canton network node and Visa's public network.