WuBlockchain
Lloyds Banking Group used USDC to settle $750,000 in payment obligations with Visa over a seven-day pilot. The bank bought the stablecoin through regulated digital-asset exchange Archax, and funds reached Visa in under an hour, including over the weekend.
Why it matters
The test puts stablecoin settlement inside a working relationship between a major UK bank and a global payments network. Its clearest result is timing: the transfer to Visa worked outside the standard banking week.
Market impact
The pilot demonstrates a use for USDC in bank-to-payments-network settlement. It was a seven-day test, not an announced broader rollout.
Source: [Lloyds Banking Group - Error](https://www.lloydsbankinggroup.com/media/press-releases/2026/lloyds-banking-group/lloyds-and-visa-test-round-the-clock-cross-border-settlement-using-stablecoins.html)
Frequently asked questions
-
How much did Lloyds settle during the pilot?
Lloyds settled $750,000 in payment obligations with Visa over seven days.
-
Where did Lloyds obtain the USDC used in the test?
Lloyds bought the USDC through Archax, a regulated digital-asset exchange.
-
How quickly did funds reach Visa?
Funds reached Visa in under an hour during the pilot.
-
Did the settlement work over the weekend?
Yes. Funds reached Visa in under an hour, including over the weekend.
-
Was this a broader launch of stablecoin settlement by Lloyds?
No broader rollout was announced. Lloyds completed a seven-day pilot with Visa.
CryptoSlate
CoinDesk
CoinTelegraph
WatcherGuru