US bank-backed P2P payments service Zelle says it will use stablecoins to enable users to make cross-border payments.
Zelle's operator, Early Warning Services, provided few details on the plan, beyond saying it would be "leveraging stablecoins" to expand their services reach around the world. However, according to recent reports the company has been exploring issuing its own stablecoin.
Early Warning Services is owned by JPMorgan Chase, Bank of America, Wells Fargo, PNC, Capital One, Truist and US Bank and works with another 2500 banks and credit unions, helping them offer P2P payments via their apps.
It launched in 2017 to take on the likes of Venmo in the P2P payments sphere and has proved hugely popular, with over 150 million enrolled users who sent more than two billion payments worth nearly $600 billion in the first half of 2025.
Early Warning Services CEO Cameron Fowler says: "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.
"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."