Zelle plans stablecoin for international payments

Zelle, the popular person-to-person payment network, is preparing to launch its own U.S. dollar-backed stablecoin, ZelleUSD (ZLUSD). This move is a strategic step to enable Zelle's expansion beyond domestic borders, facilitating cross-border transactions for its users. The introduction of the stablecoin is intended to provide U.S. consumers with a new and potentially more efficient method for sending money to friends and family internationally. This initiative signals Zelle's ambition to compete in the global digital payments arena, leveraging stablecoin technology to overcome traditional cross-border payment hurdles.