Visa Tests Private Stablecoin Settlement on Canton Network
Visa is testing private stablecoin settlement on the Canton Network with Brale to explore institutional use of blockchain without exposing sensitive data.Summary
Visa is conducting a proof of concept with Brale and the Canton Network to test private stablecoin settlement. The initiative uses Brale's SBC, a US dollar-backed stablecoin, to simulate institutional payment flows. Canton is a permissioned ledger backed by major Wall Street firms, designed so that only authorized participants can see specific deal data while still allowing atomic settlement across tokenized assets. This test extends Visa's earlier experiments using stablecoins for settlement on public blockchains, which in 2021 included USDC settlement on Ethereum. The push comes as policymakers and analysts anticipate a broader shift in how payment stablecoins are used, with global stablecoin issuance already surpassing $300 billion. US payment stablecoins that comply with the Guiding and Establishing National Innovation in US Stablecoins Act are poised to expand into merchant remittances and cross-border payments. For banks, the stakes go beyond technology experimentation, as stablecoins could threaten a portion of banks' payments income and shift funding from insured retail deposits toward more concentrated wholesale balances.
(Source：Headtopics)