Zelle goes global with $1 trillion payments network and stablecoin expansion

Zelle, the ubiquitous US person-to-person payments app, is stepping onto the international stage with plans to enable cross-border transfers powered by stablecoins.

Zelle goes global with $1 trillion

This is a move that could redefine how traditional banks approach digital assets and global payments.

The initiative, announced by Early Warning Services (EWS), Zelle’s operator and a consortium owned by seven major US banks, marks one of the most significant forays by mainstream finance into blockchain-based settlement.

Under the new strategy, Zelle aims to extend the speed, simplicity, and trust that define its domestic offering to consumers sending money internationally.

Currently processing more than $1 trillion in annual payment volume, the network’s expansion will allow users to move funds to and from the US using stablecoins—digital tokens pegged to the value of fiat currencies such as the dollar.

“Zelle transformed how Americans send money at home. Now, we’re beginning the work to bring that same level of speed and reliability to consumers sending money to and from the United States,” said Cameron Fowler, CEO of Early Warning Services.

“With improved regulatory clarity in the US, we can focus on what we do best: driving innovation to market.”

Challenging SWIFT

By leveraging stablecoins, Zelle seeks to address one of the long-standing inefficiencies in international payments—the dependency on the SWIFT network and its complex chain of correspondent banks.

Stablecoin settlements could enable near-instant transactions at a fraction of traditional costs, potentially eroding the dominance of legacy systems.

EWS, whose shareholders include Bank of America, JPMorgan Chase, Wells Fargo, Capital One, PNC Financial Services, Truist Financial, and U.S. Bancorp, plans to offer the new feature to all banks within the Zelle Network on equal terms.

This inclusive approach aims to create a scalable, interoperable model that can coexist with regulated banking systems while introducing the efficiency of blockchain technology.

Stablecoins Go Mainstream

Zelle’s decision signals a broader shift in sentiment within the financial establishment.

Stablecoins—once viewed as a fringe innovation—are now being integrated into the infrastructure of traditional payments.

Analysts suggest this reflects both growing trust in digital currencies and recognition of their potential to simplify international settlements.

However, challenges remain.

Compliance and transaction limits will need rethinking, particularly as Zelle’s platform was originally designed for smaller, domestic transfers.

Still, its move may catalyse a wave of stablecoin adoption across mainstream finance, accelerating the convergence of traditional banking and decentralised payment rails.

If successful, Zelle’s cross-border expansion could mark the beginning of a new era in global money movement—one where stablecoins bridge the gap between legacy systems and the digital economy.