Big banks enter stablecoin era by taking Zelle international as it plans to allow users to start making international transactions using stablecoins, a type of cryptocurrency.

Early Warning Services, the operator of Zelle and a consortium owned by seven major U.S. banks, has announced plans to extend Zelle into international money movement using stablecoins. The initiative is intended to let users send funds across borders more quickly and at lower cost than traditional correspondent-banking and SWIFT-based rails, while keeping the experience inside the banking apps consumers already use. The move matters because Zelle is already a very large domestic payments network, processing more than $1 trillion a year, and its expansion signals that stablecoins are moving further into mainstream banking infrastructure rather than remaining a niche crypto product. Early Warning says the capability will be offered to participating Zelle Network financial institutions on equal terms, and it also unveiled a U.S. dollar-backed stablecoin, ZelleUSD, as part of its longer-term international payments strategy.

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