Lloyds Bank completes cross-border stablecoin settlement pilot with Visa

Lloyds Bank announced on its official website that it has completed a real-time cross-border payment pilot based on stablecoins with Visa. In the seven-day pilot, Lloyds Bank bought USDC through Archax, an exchange under the UK Financial Conduct Authority, and settled $750,000 with Visa. The transaction took one hour. The pilot marks Visa’s first stablecoin settlement program with a major UK banking group.