$1 Trillion Payments Giant Visa Tests Private Stablecoin Settlement for Institutions

Visa Expands Stablecoin Strategy

The collaboration centers on SBC, a U.S. dollar-backed stablecoin issued by Brale, and will examine whether privacy-enabled blockchain infrastructure can support faster and more programmable settlement while helping institutions protect sensitive transaction data.

Visa said the initiative reflects growing interest among financial institutions in using stablecoins for settlement without sacrificing privacy, compliance, and operational controls.

Focus on Privacy

A key aspect of the project is the Canton Network’s privacy architecture. Unlike many public blockchain networks, Canton is designed to allow participants to transact on shared infrastructure while limiting the visibility of transaction information.

That feature could address a major concern among banks, payment firms, and large institutions evaluating blockchain-based settlement systems.

“As stablecoin adoption grows, financial institutions are assessing how they can use blockchain-based settlement while meeting strict privacy and compliance requirements,” Visa said in the announcement.

Visa Expands Stablecoin Strategy

Visa began enabling stablecoin settlement in 2021 and has steadily expanded its capabilities. The company currently allows VisaNet obligations to be settled using supported stablecoins.

Under the latest collaboration, Visa will evaluate whether SBC can serve as an additional stablecoin option for institutional settlement use cases.

Because SBC is natively supported on Canton, the companies will be able to test real-world payment flows using privacy-preserving infrastructure.

Executive Comments

“ Stablecoin settlement has shown how blockchain infrastructure can improve the speed and efficiency of money movement,” said Cuy Sheffield, head of crypto at Visa.

Sheffield added that the project will help Visa evaluate how SBC on Canton can support institutional settlement applications requiring both programmability and privacy controls.

Ben Milne, founder and CEO of Brale, said financial institutions are increasingly seeking stablecoin infrastructure that aligns with operational, regulatory, and privacy requirements.

“Working with Visa to explore SBC on Canton is an important step toward making stablecoin-based settlement more practical and scalable for real-world payment flows,” Milne said.

What It Means for the Industry

The announcement highlights continued institutional exploration of stablecoins as a settlement layer for global payments.

For market participants, the initiative underscores a broader trend in which major financial firms are moving beyond public blockchain experiments and examining infrastructure tailored to enterprise requirements.

While the project remains a proof of concept, it signals ongoing interest in stablecoin-based payment systems that combine blockchain efficiency with privacy and compliance features sought by regulated institutions.

Visa said it views stablecoins as a scalable next-generation settlement technology and intends to continue exploring blockchain infrastructure capable of meeting institutional standards for interoperability, compliance, and privacy.

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