Lloyds and Visa completed a $750,000 USDC cross-border settlement pilot

According to The Defiant, the British banking group Lloyds and payment giant Visa completed a $750,000 USDC transfer in a cross-border settlement pilot. The test lasted seven days, with funds transferred from Jersey to the United States, taking less than an hour in total, and could also be completed over the weekend.

During the settlement process, Lloyds used the Canton network, while Visa utilized another independent blockchain. The pilot completed cross-border fund transfers using the stablecoin USDC.