In brief
- Payments processor Zelle will use stablecoins to expand internationally.
- Zelle is owned by Bank of America, Capital One, JPMorgan Chase, PNC Bank, Truist, U.S. Bank, and Wells Fargo.
- The environment for stablecoins has improved following the passage of the U.S. GENIUS Act.
Payments processor Zelle’s parent company said Friday that Zelle would start using stablecoins to make international transactions for the firm.
Early Warning Services, which manages Zelle, said that using stablecoins would “enable Zelle to deliver faster and more reliable cross-border money movement.”
“The effort marks an important step in expanding the reach of Zelle globally by leveraging stablecoins,” an announcement by Early Warning Services said in an announcement read.
Early Warning Services CEO Cameron Fowler added: “Zelle transformed how Americans send money at home.”
“Now
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Author: Mathew Di Salvo
