The consortium of US banks behind Zelle announced international expansion using stablecoin rails. CEO Cameron Fowler says regulatory clarity from the Genius Act lets them „innovate more quickly.” Early Warning Services, the parent company of Zelle, outlines plans to bring simplicity and security consumers enjoy in their banking app to cross-border payments.
Early Warning Services, the network operator of Zelle®, today announced a new initiative to enable Zelle to deliver faster and more reliable cross-border money movement. „The effort marks an important step in expanding the reach of Zelle globally by leveraging stablecoins.” – the company said.
Zelle is a preferred way of moving money to people they know and trust, designed to support the needs of consumers, small businesses and banks and credit unions of all sizes within the Zelle Network®, and is relied on by millions of Americans for fast and easy payments.
„Zelle transformed how Americans send money at home. Now, we’re beginning the work to bring that same level of speed and reliability to Zelle consumers sending money to and from the United States, building on what we have learned from the market, our users and our network banks and credit unions,” said Early Warning Services CEO Cameron Fowler.
“Our goal is to bring the trust, speed and convenience of Zelle to consumers’ international money movement needs. We’re investing where consumer need, bank capability and global opportunity intersect. With improved regulatory clarity in the U.S., we can focus on what we do best: driving innovation to market.”
Supported by the owner banks of Early Warning Services, the initiative is designed to expand on the success of Zelle in U.S. payments while addressing one of the most persistent challenges in global money movement: sending money safely and conveniently across borders. The offering will be made available to all Zelle Network financial institutions with the intention to provide equal terms to all participants.
Early Warning Services is committed to establishing a foundation that strengthens consumer confidence and provides the same level of trust that financial institutions and consumers have come to expect from the Zelle Network.
Simon Taylor – Board Member and Founder of Global Digital Financ commented: „The real story isn’t the announcement. It’s that the largest US banks now see public blockchain rails as core infrastructure, not a science project. Whether Zelle specifically delivers? We’ll see. But the direction is set.„
„My take: They’ll launch something in 12-18 months. It will work between major US banks and select foreign partners. It will be slower than promised, but faster than correspondent banking. It will cost less than Western Union, more than pure stablecoins and will take 3-5 years to matter.”
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Early Warning Services, LLC, a financial services technology leader, has been empowering and protecting consumers, small businesses, and the U.S. financial system with cutting-edge fraud and payment solutions for more than three decades. Early Warning Services is also the company behind Zelle®, and PazeSM, a wallet that reimagines e-commerce payments. Early Warning partners with more than 2,500 banks and credit unions to increase access to financial services and products, and protect financial transactions.
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