The week-long test utilized USDC acquired via Archax, with transfers arriving at Visa in less than sixty minutes, even throughout the weekend.
Lloyds and Visa finished a seven-day operational test employing stablecoins to clear $750,000 in payment duties, marking what Lloyds called the inaugural stablecoin clearing experiment between Visa and a primary British banking institution.
Lloyds acquired USDC by way of Archax, a British-supervised digital asset trading platform, for the sequence of American dollar clearings. The transaction size was processed through the Corporate Markets division of Lloyds in Jersey and routed to Visa in America. Money arrived at Visa in less than an hour, even during weekend hours, the banking institution mentioned on Wednesday.
The experiment focused on clearing obligations between the banking entities themselves as opposed to transactions executed by consumers. Lloyds stated that conventional international clearing can require a full day or longer when started outside normal operating hours. “Clearing $750,000 of active payment obligations between Lloyds and Visa via stablecoins has enabled us to progress past mere concepts and evaluate these functions within a practical environment,” noted Peter Left, who leads Digital Assets at Lloyds.
Evaluating clearing across distinct ledgers
Lloyds likewise operated its personal validator node on the Canton Network throughout the testing phase, while Visa facilitated clearing on an alternate, unspecified, public distributed ledger.
The stablecoin clearing volume handled by Visa exceeded a $20 billion yearly annualized pace during the previous month. Back in April, Visa integrated Canton alongside four additional distributed ledgers into its clearing experiment, bringing the overall count to nine.
Lloyds stood among a group of six prominent British lenders that launched a live experiment involving tokenized British pound reserves in the preceding year.
Originally published at https://www.theblock.co/news/business/2026-10-01-lloyds-visa-settle-750000-using-usdc-in-live-cross-border-pilot-417378.
