Lloyds Completes First Stablecoin Settlement Pilot With Visa Using USDC
Lloyds Banking Group has completed its first stablecoin settlement pilot with Visa, using USDC to settle $750,000 in payment obligations over seven days, according to Wu Blockchain.
The pilot involved USDC purchased through regulated digital-asset exchange Archax. Lloyds said the funds reached Visa in less than an hour, including transactions conducted over the weekend, highlighting the settlement process tested between the banking group and the global payments company.
Lloyds Tests USDC for Payment Settlement
The pilot marks Lloyds Banking Group's first stablecoin settlement test with Visa. Lloyds is one of the United Kingdom's largest retail banking groups and the country's largest digital bank, according to the information shared by Wu Blockchain.
During the seven-day pilot, the bank used USDC to meet $750,000 in payment obligations to Visa. The stablecoin was acquired through Archax, a regulated digital-asset exchange, before being used in the settlement process.
The use of a regulated exchange provided the route through which Lloyds obtained the digital asset for the pilot, while Visa received the resulting funds as part of the settlement process.
Settlement Completed in Under an Hour
A key result from the pilot was the time required for funds to reach Visa. According to the report, the payments were completed in under an hour, including when transactions were made during weekends.
The seven-day test therefore examined stablecoin settlement across different periods rather than limiting the process to conventional banking hours. The reported settlement time provides a specific measure of how the USDC-based process performed during the pilot.
The transaction amount was $750,000 in total payment obligations, giving the trial a defined financial scope while allowing Lloyds and Visa to test the operational process.
Regulated Digital-Asset Infrastructure
Archax's involvement also places the pilot within regulated digital-asset infrastructure. Lloyds obtained the USDC used for settlement through the exchange rather than directly acquiring the stablecoin through an unregulated venue.
The trial brings together a major UK banking group, a global payments company and a regulated digital-asset exchange in a single settlement process. Its stated focus was the use of USDC to fulfill payment obligations, with the pilot providing Lloyds with a practical test of stablecoin-based settlement.
The completion of the seven-day pilot gives Lloyds a specific operational reference point for the use of USDC, including the reported ability to transfer funds to Visa in less than an hour outside conventional weekday banking periods.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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