Visa and Brale Test Private Stablecoin Settlement for Institutions
- Visa and Brale launched a proof of concept for SBC, a U.S. dollar-backed stablecoin, to explore private settlement options.
- The project leverages the Canton Network’s privacy features to address institutional concerns about transaction visibility.
- Visa has been active in stablecoin settlements since 2021 and is assessing SBC as an additional option.
- Cuy Sheffield, head of crypto at Visa, emphasized the potential of blockchain infrastructure to enhance payment efficiency.
- Ben Milne, CEO of Brale, highlighted the alignment with operational and regulatory needs for financial institutions.
The collaboration between Visa and Brale focuses on using SBC stablecoins within a privacy-enabled blockchain infrastructure to support faster settlement processes while maintaining compliance standards. This initiative reflects growing interest from financial institutions in leveraging stablecoins without compromising on privacy or operational controls.
By exploring SBC on the Canton Network, Visa aims to expand its stablecoin strategy further, potentially offering more programmable and private settlement solutions for institutional use cases. (Source)
