U.S. payment network Zelle is considering using stablecoin technology for international expansion.

Jinse Finance reported that the US payment network Zelle is considering leveraging 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 consumers with the same fast and reliable service for cross-border remittances through Zelle. Our goal is to bring Zelle's credibility, speed, and convenience to consumers with international remittance needs." Early Warning Services is responsible for operating Zelle. The company said that this initiative, the details of which remain unclear, "marks an important step for Zelle in expanding its global business by utilizing stablecoins." According to a report last month, Zelle has been exploring the issuance of its own stablecoin. According to Early Warning Services, the total amount of transfers completed through Zelle last year was about $1 trillion. Although other payment networks such as PayPal and Wise process a large number of cross-border payments, and many crypto companies are also 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 funds to other countries.