Visa and Brale have launched a proof-of-concept project to explore the use of the SBC, a US dollar-backed stablecoin, on the Canton Network. The pilot focuses on investigating how privacy-centered and programmable transactions could operate within institutional payment streams.
New pilot for institutional payment flows
According to both companies, the initiative seeks to examine real-world payment scenarios in a controlled environment. This will allow financial institutions to test transaction processes designed to limit access to sensitive data. Another goal is to gauge how effectively blockchain-based systems can facilitate controlled data sharing during financial operations.
Visa described SBC as an additional settlement option for current payment infrastructure. This strategy aims to support more structured financial workflows via programmable payments, with testing designed to assess performance under varying operational conditions.
Cuy Sheffield, Visa’s Head of Crypto, explained that the team is evaluating whether SBC can support settlement use cases that require programmability and privacy oversight, while also measuring the project’s production-readiness.
Issued by Brale, the SBC is a stablecoin pegged to the US dollar and primarily positioned for settlement-focused applications. This model offers organizations the opportunity to transact with reduced exposure to price volatility.
Glossary: The Canton Network is a blockchain infrastructure developed for regulated financial institutions. It is designed to provide both transaction privacy and selective data sharing, allowing verifiable transactions between parties without exposing all data publicly.
Visa expands its stablecoin pilot program
This proof-of-concept builds on Visa’s earlier forays into blockchain-based payment systems. The company first introduced stablecoin settlement options in 2021 and has since broadened its tests across multiple blockchain networks.
By April, Visa’s pilot program had reached an annualized volume of $7 billion, reflecting a 50% increase over the previous quarter. The program now operates across nine separate blockchain networks.
| Title | Detail |
|---|---|
| Pilot volume | $7 billion |
| Quarterly change | 50% increase |
| Supported networks | 9 |
The program features support for Ethereum, Solana, Avalanche, Base, Polygon, and Stellar. With the addition of Canton, Visa has expanded its pilot to cover privacy-focused use cases within a broader testing framework.
Stablecoin market continues rapid expansion
Recent data reveals the total supply of dollar-backed stablecoins is approaching $300 billion, with Tether’s USDT commanding roughly $188 billion and Circle’s USDC in circulation at around $76 billion.
Visa maintains its view that stablecoins could serve as a scalable layer for global payments and settlements. The project with Brale remains at the evaluation stage, as teams continue to test transaction performance and settlement efficiency.
Both companies stated their joint efforts are focused on improving operational capabilities and developing a system tailored to institutional needs before a broader rollout.
