The American payment network Zelle is considering using stablecoin technology for international expansion

ChainCatcher news, according to The Block, the American payment network Zelle is considering using stablecoin technology for international expansion.

Cameron Fowler, CEO of Early Warning Services, stated: "Zelle has changed the way Americans transfer money domestically. Now, we are working to provide the same fast and reliable service for consumers making cross-border remittances through Zelle. Our goal is to bring Zelle's trustworthiness, speed, and convenience to consumers with international remittance needs." Early Warning Services operates Zelle. The company noted that this initiative, which lacks clear details, "marks an important step for Zelle in expanding its business globally by leveraging stablecoins." According to a report from last month, Zelle has been exploring the issuance of its own stablecoin. Early Warning Services reported that the total amount transferred through Zelle last year was approximately $1 trillion. Although other payment networks like PayPal and Wise handle a large volume 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.