Zelle fires up stablecoins to fuel faster cross-border payments
The stablecoin cross-border integration will only be for payments coming from and going to the United States, Zelle’s parent company said.
Early Warning Services, the parent company of payments platform Zelle, said on Friday that stablecoins will be integrated into Zelle to facilitate cross-border transactions for money flowing to and from the United States.
Zelle launched in 2017 and already features near-instant payments between users that are integrated into the online banking services of many US banks. Early Warning Services said in Friday’s announcement:
The Zelle platform is collectively owned by the member banks that use the service, including, but not limited to, Wells Fargo, JP Morgan, Capital One and PNC.