Overview
- Visa, Brale and the Canton Network have launched a proof-of-concept using Brale’s SBC, a U.S.-dollar-backed stablecoin, to simulate institutional settlement on Canton’s permissioned ledger.
- Brale integrated SBC natively on Canton to avoid cross-chain bridges, letting the test focus on token minting/redemption flows, on-chain settlement speed and programmable payment controls.
- Canton limits transaction visibility to counterparties and authorized regulators, a design used by institutions such as JPMorgan, Goldman Sachs, BNP Paribas and the DTCC to protect sensitive payment data.
- Visa is evaluating whether SBC could join its stablecoin settlement program but said the pilot is an exploratory technical test rather than a production launch and further steps depend on operational proof points and regulatory clarity.
- The trial comes as global stablecoin issuance tops $300 billion and S&P Global notes cross-border payments as a key early use case while warning stablecoins could change banks’ fee income and deposit dynamics.