Visa and Lloyds complete live trials of stablecoin settlement

Visa and Lloyds Banking Group just finished testing a new way to move money across borders using stablecoins. For most retailers, international transactions are currently a headache of high fees and multi-day delays. This trial shows that blockchain technology is moving out of the lab and into the real world. By using stablecoins, banks can settle payments almost instantly, 24/7, without waiting for traditional banking hours. What does this mean for your business? In the near future, the gap between a customer making a payment and that money hitting your account could shrink significantly. This is especially true for merchants dealing with international suppliers or customers. Faster settlement means better cash flow and less reliance on expensive short-term bridge financing. While you don't need to accept crypto today, the infrastructure behind your credit card terminals is getting a massive speed upgrade. This technology will eventually lower the overhead costs of processing payments, which could lead to lower merchant discount rates (MDR) down the road.

Source: Finextra — Lending

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