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      Lloyds and Visa Complete $750,000 USDC Settlement Pilot

      Lloyds Banking Group and Visa have successfully concluded a live pilot that settled $750,000 in US dollar payment obligations using USDC, a stablecoin pegged to the dollar. The seven-day trial, which ended on September 30, 2026, aimed to explore cross-border settlement capabilities outside of traditional banking hours, addressing a long-standing challenge for corporate treasurers.

      The pilot demonstrated the ability to transfer funds to Visa in under one hour, even during weekends when conventional payment systems are typically inactive. The dollar obligations were processed through Lloyds’ Corporate Markets branch in Jersey, with the bank acquiring USDC from Archax, a regulated digital asset exchange in the United Kingdom. This approach ensured compliance with regulatory standards while facilitating the transaction.

      Peter Left, Lloyds’ Head of Digital Assets, emphasized the advantages of this digital settlement method for corporate clients, including improved liquidity visibility and enhanced operational flexibility. The pilot also tested the interoperability between the Canton blockchain network and public blockchains, showcasing the potential for seamless transactions across different platforms.

      This initiative marks the first stablecoin settlement collaboration between Visa and a major UK banking institution, extending Visa's USDC settlement efforts, which began in 2025. While the pilot's success is promising, experts caution that further developments are needed before stablecoin settlements become commonplace in corporate treasury operations.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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