US payment network Zelle considers using stablecoin technology for international expansion

Foresight News: According to The Block, the US payment network Zelle is considering using stablecoin technology for international expansion. A report last month indicated that Zelle has been exploring the issuance of its own stablecoin.

Early Warning Services, the operator of Zelle, stated that approximately $1 trillion in transfers were completed through Zelle last year. Although other payment networks such as PayPal and Wise handle a large volume of cross-border payments, and many crypto companies are also trying to compete by offering low-cost international remittance services, Zelle has a large customer base that may be interested in the ability to transfer funds to other countries.