Zelle To Integrate Stablecoins For International Transfers
Zelle To Integrate Stablecoins For International Transfers. Photo By Rubaitul Azad On Unsplash.
Zelle is set to consider using stablecoins for international transfers.
The U.S. based payment platform popular among consumers hinted at a potential adoption of stablecoins to service its international transfers, following in the footsteps of many global fintechs and remittances services. The recent press release initiated by Early Warning Services, which facilitates Zelle's network, hinted at a broader strategic shift to reconsider how money movement may occur more globally.
Regarding the plans, CEO of Early Warning Services Cameron Fowler commented:
"Zelle transformed how Americans send money at home. Now, we're beginning the work to bring that same level of speed and reliability to Zelle consumers sending money to and from the United States, building on what we have learned from the market, our users and our network banks and credit unions."
In 2024, Zelle had outperformed expectations and hit a whopping $1T in annual payment volumes, powering on its competition with fellow rivals PayPal, Venmo and CashApp. With an increasing amount of adoption from U.S. individuals paying for everyday essentials like monthly rent payments, as well as annual growth from small business adoption, refocusing on international payments is set to deliver even bigger targets for the company.
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