Key facts
- Visa is testing private stablecoin settlement on the Canton Network.
- The test involves stablecoin infrastructure company Brale and its US dollar-backed stablecoin, SBC.
- The project explores using privacy-enabled blockchain networks for institutional payments.
- Visa aims to evaluate if SBC can be an option in its settlement program.
- This initiative extends Visa's prior 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 blockchain technology can facilitate institutional payment flows without exposing sensitive transaction data. The project utilizes SBC, a US dollar-backed stablecoin issued by Brale, to simulate these institutional payment flows on Canton. This exploration builds upon Visa's previous experiments with stablecoins for settlement on public blockchains, which began in 2021 with USDC on Ethereum. The current focus is on banks and market infrastructure providers who seek the efficiency of on-chain transactions but require privacy regarding counterparties, positions, and transaction flows.