Lloyds Banking Group completed a stablecoin settlement pilot with Visa using USDC, settling $750,000 in obligations in under an hour via regulated exchange Archax.
DeFi & Yields ·
Lloyds Banking Group and Visa completed a live cross-border settlement pilot using USDC, moving $750,000 in obligations in under an hour—including execution over a weekend. The seven-day trial sourced USDC through regulated exchange Archax, demonstrating the mechanics of stablecoin-based settlement in a controlled environment.
The pilot tested whether blockchain-based settlement could reduce friction and time in cross-border transactions compared to traditional rail systems. Speed and the ability to settle outside standard banking hours are primary metrics regulators and financial institutions track when evaluating stablecoin infrastructure for institutional use.
No details have been released on next steps, expansion timelines, or whether the two parties plan to move beyond pilot scope. It remains unclear whether other financial institutions or payment networks intend to join similar initiatives or if this serves as a model for broader adoption within the UK or Visa ecosystem.