Visa Joins Canton Network as Super Validator to Boost $4.6bn Stablecoin Settlements
Visa will join the Canton blockchain network as one of 40 super validators to offer privacy-preserving onchain payments and stablecoin settlement, leveraging its $4.6bn annual stablecoin volume. European Payments Initiative’s Wero platform has grown to 52.5m users across Belgium, France and Germany with 45 bank members, posing competitive pressure.
1. Visa Becomes Canton Network Super Validator
Visa will join the Canton Network as a super validator, marking the first time a major payments company assumes this role among 40 validators tasked with securing regulated blockchain operations. The role grants Visa voting rights on network decisions and enables it to offer privacy-preserving stablecoin payment, settlement and treasury services leveraging its $4.6bn annual stablecoin transaction volume.
2. European Payments Initiative’s Wero Expansion
Wero, launched in 2024 by 45 European banks and fintechs, has grown from 43.5 million users in September to 52.5 million in Belgium, France and Germany, with planned expansion into Luxembourg and the Netherlands next year. The platform aims to reduce reliance on U.S. payment systems by providing an alternative to Visa and Mastercard, driven by concerns over Europe’s financial sovereignty.