Got to The Block: Lloyds Bank (UK) and Visa completed a 7-day USDC cross-border settlement pilot, settling a total of about $750,000 in obligations. USDC was purchased through the UK-licensed trading venue Archax, then transferred from the Jersey Island corporate market branch to the U.S. via Visa. Even on weekends, it can settle within an hour—whereas traditional interbank clearing often takes more than a day when it hits non-business hours.
This is testing inter-institution settlement, not terminal user payments. Lloyds also ran Canton private-chain nodes, while Visa used another public chain, and both networks are interoperable. Visa’s stablecoin settlement annualized scale exceeded roughly $20 billion last month. Banks putting real money behind embedding stablecoins into existing settlement workflows is a cut above the talk of “making it real.”
$USDC #Visa #stablecoin
This is testing inter-institution settlement, not terminal user payments. Lloyds also ran Canton private-chain nodes, while Visa used another public chain, and both networks are interoperable. Visa’s stablecoin settlement annualized scale exceeded roughly $20 billion last month. Banks putting real money behind embedding stablecoins into existing settlement workflows is a cut above the talk of “making it real.”
$USDC #Visa #stablecoin
