Visa Inc., a leading payments technology company, has entered into a collaboration with Brale to explore the potential of stablecoin-based settlement on the Canton Network. This initiative builds upon Visa's existing efforts in enabling stablecoin settlement, which began in 2021.
The partnership between Visa and Brale will focus on evaluating the use of SBC (USD-backed stablecoin) issued by Brale as an additional stablecoin option for institutional settlement use cases. The Canton Network's privacy architecture is a central aspect of this collaboration, aiming to support faster and more programmable settlement while maintaining control over sensitive transaction data.
Cuy Sheffield, Head of Crypto at Visa, emphasized the potential benefits of blockchain infrastructure in improving the speed and efficiency of money movement. Ben Milne, founder and CEO of Brale, highlighted the importance of meeting operational, regulatory, and privacy requirements for financial institutions.