LONDON, 30 SEPT 2026 – Visa, a global leader in digital payments, and Lloyds Banking Group have completed a live pilot exploring how stablecoin-based settlement could support faster, more transparent and flexible cross-border transactions.
During a seven-day live pilot, Lloyds used stablecoins to settle US$750,000 of payment obligations with Visa, with funds reaching Visa in under an hour, including over the weekend.
The seven-day pilot involved a series of US dollar settlement obligations totalling US$750,000. To complete these settlements, Lloyds used USDC purchased through Archax, a UK-regulated digital asset exchange. The settlement volume, booked through Lloyds’ Corporate Markets branch in Jersey, was then transferred to Visa in the US.
Under traditional cross-border payment processes, settlement can take a day or more if initiated outside of banking hours.
As part of the test, Lloyds used its own node on Canton, leveraging the network’s configurable privacy capabilities, while Visa supported settlement on a separate public blockchain, demonstrating interoperability across both networks.