According to The Block, Lloyds settled $750,000 of payment obligations with Visa during a seven‑day live cross‑border pilot that employed the USDC stablecoin.
The pilot involved the use of USDC as the settlement currency for transactions between the two parties across borders. It ran for seven consecutive days and included actual settlement activity rather than simulation.
Visa participated in the initiative alongside Lloyds, confirming that USDC was applied to settle the specified amount. No additional financial terms, timelines beyond the pilot period, or qualitative statements about performance were provided.
