(15 October 2026 – United Kingdom) Stablecoins are rapidly shifting into the mainstream as a modern method for bank settlement as Lloyds uses USDC to settle payment obligations with Visa.
Lloyds and Visa and have executed a seven-day live pilot using stablecoins to settle US$750,000 of payment obligations, with funds reaching Visa in the US in sub 60 minutes including outside business hours and on the weekend. Lloyds operated its own node on Canton Network, while Visa supported settlement on a separate public blockchain testing how institutional settlement could operate across private and public blockchain environments.
“Stablecoins are increasingly moving from a crypto-native payment rail into the infrastructure used by banks, corporate treasury teams, payment networks and financial institutions to manage liquidity and settle obligations” commented Tokenization Insight Founder Harvey Li.
“This is significant because the stablecoin was not being used by a crypto exchange or fintech to move customer money. For corporate treasury, stablecoins provide a shared external settlement asset outside banking hours with inbuilt cross-chain interoperability.”
ANZ, Citi, BHP and Swift have separately demonstrated 24/7 interoperable cross-border corporate treasury payments for tokenized deposits are now attainable under Swift’s hub-of-hubs interoperability model.