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Zelle has grown by leaps and bounds since its introduction in 2017. It processed more than $1t in payments volume last year and boasts more than 150m users. However, one area where it lags behind competitors like PayPal is the ability to send money across borders. Currently, Zelle users must have a U.S. bank account to transmit funds to one another.
“The biggest use case is cross-border payments,” said Joel Hugentobler, Cryptocurrency Analyst at Javelin Strategy & Research. “Zelle could also use the stablecoins for instant refunds and chargeback credits, but most of the other programmable use cases will take time to build out and get right.”
https://www.paymentsjournal.com/zelles-stablecoin-could-mark-its-entry-to-cross-border-payments/
