According to Odaily Planet Daily, the US payments network Zelle is considering leveraging stablecoin technology for international expansion. Cameron Fowler, CEO of Early Warning Services, which operates Zelle, stated, "Zelle has transformed the way Americans transfer money domestically. Now, we're working to provide the same fast and reliable service to consumers who use Zelle for cross-border remittances. Our goal is to bring Zelle's trust, speed, and convenience to consumers who need to send money internationally." Early Warning Services, which operates Zelle, stated that this move, details of which are still unclear, "marks a significant step for Zelle to expand its reach globally through the use of stablecoins." According to a report last month, Zelle has been exploring issuing its own stablecoin.

According to Early Warning Services, approximately $1 trillion was transferred through Zelle last year. While other payment networks like PayPal and Wise handle a significant amount of cross-border payments, and many crypto companies are 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 money to other countries. (The Block)