Key facts
- Visa is testing private stablecoin settlement on the Canton Network with Brale.
- The project uses Brale's US dollar-backed stablecoin, SBC.
- The goal is to evaluate blockchain's ability to support institutional payments without exposing sensitive data.
- Canton Network is a permissioned ledger backed by Wall Street firms.
- This extends Visa's earlier experiments with stablecoins on public blockchains.
Visa is conducting a proof of concept to test private stablecoin settlement on the Canton Network, collaborating with stablecoin infrastructure company Brale. The initiative aims to determine if privacy-enabled blockchain networks can facilitate institutional stablecoin settlements without exposing sensitive transaction data. The project, announced on Thursday, utilizes SBC, a US dollar-backed stablecoin issued by Brale, to simulate institutional payment flows on Canton. This exploration is part of Visa's ongoing evaluation of stablecoins for its settlement program and extends its previous experiments with stablecoins on public blockchains, such as USDC settlement on Ethereum. The focus now shifts to banks and market infrastructure providers who seek the efficiency of on-chain transactions while maintaining privacy regarding counterparties, positions, and transaction flows.