Visa Tests Private Blockchain Networks for Institutional Stablecoin Settlement

Visa has launched a proof-of-concept project to test the use of privacy-enabled blockchain networks for institutional stablecoin settlement.

The project, which uses the Canton Network and Brale's US dollar-backed stablecoin SBC, aims to evaluate whether SBC could become another stablecoin option in Visa's settlement program.

The Canton Network is a permissioned ledger backed by major Wall Street firms, including JPMorgan, Goldman Sachs, and BNP Paribas. It allows for atomic settlement across tokenized assets, cash-like instruments, and other financial contracts while maintaining the privacy of transaction data.