Lloyds Banking Group and Visa Complete First Stablecoin Settlement Pilot

Lloyds Banking Group and Visa have completed their first stablecoin settlement pilot. Over a seven-day test, Lloyds used USDC purchased via the Archax exchange to settle $750,000 in Visa payment obligations, achieving settlement within one hour. The pilot also tested cross-chain interoperability between private and public blockchains.