Lloyds Banking Group and Visa Complete $750,000 Stablecoin Settlement Pilot

Lloyds Banking Group and Visa have successfully completed a cross-border stablecoin settlement pilot involving approximately $750,000. The seven-day test utilized USDC purchased through the UK-regulated exchange Archax, with settlement verified across both private and public Canton chains. Funds were successfully transferred in under an hour, marking the first stablecoin settlement trial between Visa and a major UK banking group.