Lloyds and Visa Move $750k USDC Across Weekend
USDC (USDC)
Editor:
Eugene Serbin
Thecurrencyanalytics.com reports that Lloyds Banking Group successfully transferred $750,000 in USDC to Visa during a seven-day trial, completing the settlement in under an hour while traditional banks were closed. The transaction originated from Lloyds’ Corporate Markets branch in Jersey and utilized USDC procured through Archax, a UK-regulated digital asset exchange. Lloyds operated a node on the Canton blockchain network, which offered configurable privacy settings, while Visa handled the settlement on a separate public blockchain.
This dual-environment approach allowed both institutions to maintain their existing systems while achieving interoperability. The trial demonstrated that stablecoins could enable real-time settlements outside traditional banking hours, addressing the inefficiency of funds sitting idle over weekends. Jean-Luc Maracon, a French-Swiss decentralized finance expert, noted the significance of such institutional adoption efforts.
The move highlights how blockchain technology can enhance liquidity and operational efficiency for financial institutions. By using a fiat-pegged stablecoin, the value remained predictable at one dollar throughout the transfer. This experiment serves as a proof of concept that existing infrastructure can be made faster without requiring a complete system overhaul. The success suggests potential for broader adoption of blockchain in mainstream banking, particularly for cross-border payments.
How the market reacted
Whalio's own Binance spot order flow for USDC, measured when this story was written up on 2 October 2026. Not the outlet's figures.
USDC is trading at $1.00 with a 1-hour buy ratio of 40.2%, which is lower than the 4-hour ratio of 47.7% and the 24-hour ratio of 48.5%. This decline in short-term buying pressure indicates that immediate demand is fading relative to the broader daily trend. The 1-hour volume delta is -$23,478,767, showing that sellers are currently outweighing buyers in the short term. Over the past 24 hours, the volume delta stands at -$129,877,148, with a cumulative volume delta (CVD) of -$154,684,704 at the close. This negative delta means that more volume was executed on sell orders than buy orders over the day. Net buying occurred for only 6 of the 24 hours, suggesting that selling pressure dominated the majority of the trading session.
The latest daily buy ratio of 50.2% sits at the 73rd percentile of the last 322 days, against a median of 48.4% - stronger buying than most days.
Was that an ordinary day?
The same Binance spot measurements for USDC, averaged over the days leading up to the story.
Over the preceding week, the 7-day average buy ratio was 48.6%, compared to a latest day ratio of 48.5%, a difference of just 0.1 points. This indicates that today’s buying activity is virtually identical to the weekly average, making it an ordinary day for the coin. However, spot volume was 1.79 times the weekly average, signaling significantly higher activity than usual. The 8-day volume delta total was -$704,170,455, reflecting sustained net selling pressure over the longer period. While volume is elevated, the buy ratio has not deviated from its norm, suggesting traders are active but not shifting their directional bias.