Visa Explores Private Stablecoin Settlement with Brale and Canton Network
- Visa is testing private blockchain networks for institutional stablecoin settlement in collaboration with Brale and the Canton Network.
- The proof of concept uses SBC, a US dollar-backed stablecoin from Brale, to simulate payment flows.
- Canton Network connects major financial institutions like JPMorgan and Goldman Sachs, ensuring transaction privacy.
- Global issuance of stablecoins has surpassed $300 billion, driven primarily by demand in crypto trading.
- The initiative aims to allow banks to maintain control over sensitive transaction data while improving settlement efficiency.
This project reflects a growing interest in enhancing the use of stablecoins for institutional payments while addressing privacy concerns associated with public blockchains. Analysts suggest that compliance with regulations could expand the use of payment stablecoins into new areas like merchant remittances.
As global stablecoin issuance exceeds $300 billion, Visa’s exploration of private settlement solutions may reshape how financial institutions handle transactions.(Source)
