Visa and Brale Conduct SBC Settlement Test on Canton Network

Visa and fintech company Brale have launched a stablecoin-based payment settlement test on the blockchain Canton Network. The two companies are conducting a proof of concept (PoC) to verify whether Brale's dollar-backed stablecoin, 'SBC', can be used as a settlement method within the Visa payment network. This experiment focuses on processing payment flows between institutions. The Canton Network is a blockchain platform that offers privacy protection and high interoperability, making it suitable for handling sensitive transaction data between financial institutions. Visa plans to confirm whether it can implement a compliant settlement pathway in a blockchain environment through this test. This collaboration between Brale and the Canton Network is not the first, as Brale has previously conducted unofficial stablecoin experiments with Visa. Currently, the number of stablecoins has surpassed 350, with the total market size reaching approximately $300 billion. Visa is also participating in the Bloom initiative led by the Monetary Authority of Singapore, testing settlement possibilities on the 7th. The SBC settlement test is in the proof of concept stage, and details regarding the PoC results or commercialization schedule have not been disclosed.

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