Visa, Brale test privacy-enabled stablecoin settlement

Visa and Brale announced on June 4, 2026 a proof-of-concept to settle institutional payments using Brale’s USD-backed stablecoin SBC on the Canton Network. The trial will evaluate programmable settlement that keeps transaction details confidential while supporting compliance controls.

SBC is a 1:1 US dollar-backed token issued by Brale and runs natively on Canton rather than being bridged from a public chain. Brale provides issuance, minting, redemption, compliance tools, treasury services and APIs for integration with institutional systems.

The Canton Network is designed for institutional use and restricts who can view transaction details. Its architecture lets participants prove that a settlement occurred without exposing counterparty identities or amounts to other network users.

The pilot will test whether Canton’s privacy model combined with programmable settlement logic can meet data protection and compliance requirements for banks and payment firms. Visa has used stablecoins to settle VisaNet obligations since 2021; the company framed the Canton pilot as an evaluation of adding SBC as another settlement option.

Cuy Sheffield, Visa’s head of crypto, wrote that stablecoin settlement has improved the speed and efficiency of money movement and that the work with Brale will explore how SBC on Canton can support programmable settlement with privacy controls and what is needed to bring those capabilities into production.

Ben Milne, Brale’s founder and CEO, stated that financial institutions are seeking stablecoin infrastructure that meets operational, regulatory and privacy requirements and that the collaboration with Visa will help assess SBC’s practicality and scalability for real-world payment flows.

The proof-of-concept will examine technical integration, compliance workflows and the operational behavior of SBC on Canton’s privacy-enabled rails. Visa and Brale did not disclose results or a timeline for completion.

U.S. regulators are developing frameworks for payment stablecoins. Visa and Brale said the pilot will provide practical information about how privacy and compliance controls can be implemented on blockchain-based settlement systems.