Zelle Plans to Expand Bank-Owned Payments Network to Outside US

Zelle, the bank-owned service that facilitates consumer money movement, said it plans to expand its services internationally.

Zelle will rely on stablecoins to enable cross-border money movement, according to a statement Friday from Early Warning Services LLC, Zelle’s parent company. All Zelle network banks will have the option to provide the service, according to the statement.

The Zelle logo

Photographer: Tiffany Hagler-Geard/Bloomberg

Financial-technology firms such as Wise Plc have long operated in the cross-border money-movement space, but the banks’ scale gives them an advantage in the crowded market. With the passage three months ago of a US regulatory framework for stablecoin issuers, there’s now ...