Early Warning Services, the operator of Zelle, announced a plan to expand its $1 trillion U.S. payments network internationally by leveraging stablecoins, aiming to make cross-border transfers faster, cheaper, and more reliable.
The initiative, unveiled Monday, is the most ambitious move yet from Zelle, long a dominant domestic rail for person-to-person and small-business payments. Bank-owned EWS said the program will build on lessons learned from millions of American users and the capabilities of participating banks and credit unions.
“Our goal is to bring the trust, speed, and convenience of Zelle to consumers’ international money movement needs,” said CEO Cameron Fowler.
EWS described the effort as a response to growing consumer demand for lower-cost, real-time international payments and as an opportunity for traditional banks to regain footing against fintech challengers.
By using blockchain-based stablecoins to settle cross-border flows, the network hopes to cut settlement times and reduce fees that typically accompany correspondent banking chains.
The announcement underscores the influence of Zelle’s existing footprint. Backed by major U.S. banks including JPMorgan Chase, Wells Fargo, and Bank of America, Zelle already moves roughly $1 trillion through its domestic rails, giving EWS a scale most independents struggle to match.
Leveraging that scale, EWS argues, could accelerate bank adoption of tokenized settlement for international corridors.
But the release left significant operational and regulatory questions unresolved. EWS did not specify whether it will adopt an existing stablecoin, create a consortium token, or allow individual member banks to issue their own tokens.
Details on target countries, compliance frameworks, liquidity arrangements, and fee structures were also omitted. EWS said pilots are expected, but did not provide dates yet.
Industry observers welcomed the prospect of faster, cheaper transfers but cautioned that success will hinge on regulatory clarity, liquidity partnerships, and coordination among banks, payment processors, and local regulators.
For now, EWS has outlined intent and ambition; the industry will be watching for implementation timelines and technical and governance details that will determine whether Zelle’s next chapter reshapes cross-border payments.