Visa tests private stablecoin settlement with Brale’s SBC on Canton Network

Visa (with Brale and Canton participants) has tested a private stablecoin settlement workflow using Brale’s U.S.-dollar-backed stablecoin, **SBC**, on the **Canton Network**. The proof of concept evaluates whether institutional payment transactions can settle on-chain while keeping sensitive payment and settlement data hidden from public view. The pilot runs on Canton’s permissioned infrastructure for financial institutions, where involved parties and authorized regulators can control data visibility. Canton is designed for programmable finance use cases, including atomic settlement across tokenized assets and financial contracts. Visa is also assessing whether this private stablecoin settlement model could be integrated into a broader stablecoin settlement program. This comes as total stablecoin supply nears **$300B** and S&P Global Ratings expects compliant stablecoins (e.g., aligned with the U.S. GENIUS Act) to expand into merchant payments, remittances, and commercial transactions as regulation becomes clearer. For traders, the key near-term takeaway is incremental “plumbing” progress rather than immediate demand shock; longer-term adoption hinges on whether private stablecoin settlement can scale efficiently. **Keywords: private stablecoin settlement, SBC, Canton Network, institutional payment settlement.**