Lloyds Banking Group says a seven-day pilot sent a series of U.S.-dollar settlement obligations totaling $750,000 to Visa in USD Coin (USDC), with settlement reaching Visa in under an hour over a weekend.
The $750,000 was the total across that series, rather than the value of one payment. Lloyds said its Corporate Markets branch in Jersey booked the obligations and sent them to Visa in the United States.
Visa's service covers settlement between financial institutions, the transfer step that follows a card payment. Cardholders still make an ordinary card purchase; the pilot concerns how participating firms move the corresponding funds after checkout.
Visa said in Dec. 2025 that seven-day USDC settlement was available to U.S. issuer and acquirer partners. The company said it was onboarding select U.S. partners, with broader access expected through 2026.
On Oct. 27, Visa CEO Ryan McInerney said the company supported five stablecoins across 10 blockchains.
