Visa is collaborating with stablecoin infrastructure provider Brale to test private stablecoin settlement on the Canton Network, the payments giant announced on June 4, 2026. The proof of concept uses Brale’s SBC stablecoin to explore privacy-enabled blockchain infrastructure for institutional payment flows.
TLDR Keypoints
- Visa is testing stablecoin-based settlement with Brale using SBC on the Canton Network, focused on privacy-enabled institutional payment infrastructure.
- SBC is a U.S. dollar-backed stablecoin issued by Brale, fully backed by cash, cash equivalents, and short-duration U.S. Treasuries.
- The test builds on Visa’s existing stablecoin settlement program, which reached a $7 billion annualized run rate across nine blockchains as of April 2026.
Visa pilots private stablecoin settlement with Brale on Canton
Visa described the initiative as a proof of concept that will test privacy-enabled blockchain infrastructure for faster, more programmable institutional settlement while limiting visibility of sensitive settlement data. The effort is explicitly framed as an exploration, not a commercial rollout.
SBC, the stablecoin at the center of the test, is issued by Brale in partnership with Stable Coin Inc. It is fully backed by cash, cash equivalents, and short-duration U.S. Treasuries, and is always redeemable 1:1 for U.S. dollars. The token currently has a market cap of roughly $8.8 million and circulating supply of approximately 8.78 million tokens, making it a comparatively small stablecoin compared to dominant assets like USDC.
Visa said it plans to evaluate SBC as an additional stablecoin option for institutional settlement use cases. The company first began enabling stablecoin settlement in 2021, giving it several years of operational experience before this latest privacy-focused expansion.
Why Brale and Canton fit a private settlement use case
The choice of Canton as the network layer is significant. Canton is designed as a privacy-enabled blockchain where participants can transact without exposing sensitive data to the broader network. For institutional settlement, where counterparties need confidentiality over transaction details, this architecture addresses a core concern that public blockchains do not solve natively.
Brale has supported Canton since July 2024, when the Canton Network announced that Brale-issued native regulated stablecoins would support payments, liquidity on-ramps, and interoperability between leading blockchains and the Canton ecosystem. The Visa test builds on infrastructure that was already in place, not a greenfield deployment.
This approach differs from open public-chain payment flows, where transaction amounts and counterparties are visible to anyone. Visa noted that financial institutions need privacy controls over sensitive settlement data, a requirement that makes permissioned or enterprise-friendly infrastructure a better fit for this type of use case. The broader trend of traditional financial institutions exploring tokenized settlement systems reflects growing demand for compliant on-chain transfer rails.
The pilot is not Visa’s first move into blockchain settlement. Its broader stablecoin settlement program was already operating at meaningful scale before this new test. Visa disclosed on April 29, 2026 that the program had reached a $7 billion annualized run rate.
Canton was already part of Visa’s wider stablecoin settlement expansion. The April update confirmed that the pilot supported nine blockchains, including Canton, before the Brale collaboration was announced.
What the Visa stablecoin test could mean for blockchain payments
Visa’s involvement signals that major payment networks see privacy-enabled stablecoins as a viable path for institutional settlement. The proof of concept tests whether a smaller, compliance-oriented stablecoin like SBC can serve the same infrastructure role that USDC has played in Visa’s earlier settlement work.
Settlement efficiency and programmability are central to the value proposition. Traditional cross-border settlement can take days and involves multiple intermediaries. Stablecoin-based settlement on purpose-built networks like Canton could compress that timeline while giving institutions granular control over data visibility, an area where exchange infrastructure upgrades and institutional-grade tooling continue to evolve.
The regulatory framing is notable. Visa positioned the test around compliance-sensitive institutional settlement rather than retail trading. Brale’s SBC materials describe sanctions and BSA-oriented compliance controls, and the reserve structure sits in regulated treasury infrastructure. No new regulatory filing or formal approval was disclosed alongside the June 4 announcement.
Visa did not publish pilot volume, participating institutions, or a production launch timeline. No public on-chain transaction data or technical pilot report was disclosed. The concept of institutional capital structures built around digital assets continues to develop alongside these settlement experiments, but the Brale-Canton test remains in proof-of-concept stage with no confirmed path to production deployment.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
