Visa Partners with Brale on Private Stablecoin Settlements

Visa is exploring the use of private stablecoin settlements on the Canton Network, a blockchain platform that combines speed and programmability with control over confidential data. The project, which is being implemented in collaboration with Brale and major Wall Street financial institutions, utilizes the SBC stablecoin, pegged to the US dollar.

The Canton Network was developed by Digital Asset and unites giants such as JPMorgan, Goldman Sachs, and BNP Paribas. Its unique feature lies in the fact that transaction details are visible only to participants and authorized regulators, allowing financial institutions to execute fast and programmable transactions while maintaining strict control over confidential data.

According to an S&P Global Ratings report, global stablecoin issuance has exceeded $300 billion, but experts predict that stablecoins will begin to be widely used in securities trading and cross-border payments once regulatory rules under the GENIUS Act draft are finalized. The widespread adoption of stablecoins could potentially impact banks' revenue from payment services in the long term and shift retail deposit flows in favor of wholesale balances.