Lloyds Banking Group completed a seven-day live pilot settling $750,000 in real payment obligations with Visa using USDC, a dollar-pegged stablecoin. Lloyds bought the USDC through UK-regulated digital-asset exchange Archax, booked the transactions through its Corporate Markets branch in Jersey and transferred the funds to Visa in the United States in several tranches. Visa received the funds in under an hour, including over a weekend, without customers needing to hold stablecoins or create separate wallets. The pilot tested interoperability between Lloyds' private Canton blockchain environment and a separate public blockchain supported by Visa, while examining potential benefits for settlement speed, transparency, operational visibility and liquidity management. Lloyds also described the experiment as having a settlement scale of approximately ¥120 million, but the available disclosures do not reconcile that figure with Visa's separately reported $750,000 USDC amount. Visa said business and commercial programs accounted for about 17% of its stablecoin-linked card volume in fiscal 2026 year-to-date and that it supports more than 160 such programs.