Visa is testing whether privacy-enabled blockchain networks can support institutional stablecoin settlement without exposing sensitive transaction data, in a proof of concept with Brale and the Canton Network, a permissioned ledger backed by major Wall Street firms.
The project uses SBC, a US dollar-backed stablecoin issued by Brale, to simulate institutional payment flows on Canton as Visa evaluates whether SBC could become another stablecoin option in its settlement program.
Canton, developed by Digital Asset, connects permissioned blockchain applications operated by institutions including JPMorgan, Goldman Sachs, BNP Paribas, and the Depository Trust & Clearing Corporation (DTCC). Unlike public chains, Canton is designed so only transaction participants and authorized regulators can see specific deal data, while still allowing atomic settlement across tokenized assets and financial contracts.