Crypto.com broadens sports tie-ups and adds TradingView trading to its exchange

Crypto.com used its latest affiliate newsletter to highlight a string of commercial and product moves intended to raise mainstream visibility and improve the trading experience for active users. The updates include partnerships that put the platform closer to sports fans, a direct execution integration with TradingView on the Crypto.com Exchange, and a weekly market snapshot showing a pullback in prices alongside rising volatility and pockets of outperformance.

Sports and collectibles: Fanatics and SailGP agreements

In the newsletter, Crypto.com announced a collaboration with Fanatics Collectibles to develop what it described as the first UEFA Champions League activation between the two companies. Separately, Crypto.com and OG Prediction Markets were named global partners of the United States SailGP team. Both moves underscore an ongoing strategy among major crypto platforms to lean on high-profile sports partnerships to reach mainstream audiences and lend legitimacy to their brands.

For affiliates and content creators, the company framed the deals as opportunities to appeal to sports-focused communities. Industry observers say such sponsorships can increase short-term brand recognition and drive user acquisition if paired with compelling customer journeys, such as collectible drops or co-branded promotions. However, the marketing lift from sponsorships can vary depending on execution, local regulatory constraints and the degree to which the partnerships translate into active product use.

TradingView integration aims at active traders

Crypto.com confirmed that the Crypto.com Exchange now supports direct trade execution from TradingView. The integration lets users place orders from TradingView’s charting interface while routing executions through the Crypto.com Exchange, combining advanced technical analysis tools with the exchange’s order flow.

This type of connectivity is increasingly common across major venues. For traders, the appeal is straightforward: fewer steps between analysis and execution, plus the ability to use TradingView’s scripting and drawing tools while tapping an exchange’s liquidity. For exchanges, integrations with third-party charting platforms are a defensive and acquisitive play, making it easier to retain active traders who otherwise might prefer platforms offering native advanced charting.

From a competitive standpoint, the move positions Crypto.com’s Exchange alongside peers that already provide charting and execution linkups. Execution quality, latency and fee structure will determine whether the feature materially shifts market share among professional and semi-professional users.

Market snapshot: small price declines, higher volatility, token winners

Crypto.com’s research dashboard data included in the newsletter showed a modest weekly pullback: the price index fell about 3.53% while the volume index dropped roughly 3.97%. At the same time, the volatility index increased by about 27.6%, signaling choppier trading conditions over the period.

Bitcoin and Ether were cited as down around 4.4% and 4.5% respectively for the week, while smaller-cap or niche tokens produced the biggest moves. Hyperliquid (HYPE), Toncoin (TON) and Hedera (HBAR) were highlighted as leaders in price gains. The newsletter attributed HYPE’s momentum in part to increased whale activity and flows into recently launched U.S. spot ETFs connected to the project, noting more than $100 million in inflows during May.

Rising volatility and selectively strong token performance underline a bifurcated market: major-cap assets remain sensitive to macro headlines and liquidity conditions, while idiosyncratic catalysts can drive outsized moves in specific tokens. Affiliates and traders should weigh the increased dispersion when positioning content or strategies, as headline returns from smaller tokens often come with elevated execution and custody risks.

Affiliate and creator program developments

The newsletter also served operational purposes for partners. Crypto.com flagged a new dedicated creator program for key opinion leaders and influencers, instructing eligible partners to check their inboxes for invitations. The update included a reminder to track mentions of “Crypto.com” to ensure proper attribution in the affiliate system, and listed several top-performing creative assets such as app banners and product-level creative concepts.

These program touches speak to an ongoing professionalization of crypto affiliate channels: firms increasingly provide creators with targeted content, measurement tools and bespoke offers to influence user acquisition. The approach helps platforms manage compliance and performance simultaneously, though creators must remain mindful of local advertising and financial promotion rules when promoting crypto products.

What this means for the market and affiliates

Taken together, the announcements reflect a dual strategy: use consumer-facing partnerships to widen brand reach, while improving product-level features to better serve active traders. For affiliates, the commercial tie-ins create new promotional narratives — sports fandom, collectibles and exclusive creator benefits — that can be leveraged to reach distinct audience segments.

On the product side, TradingView execution capability addresses a clear user need for integrated workflows. Whether it translates to measurable market-share gains will depend on the execution experience, liquidity and whether Crypto.com can combine these features with differentiated pricing or service levels for professional users.

Finally, the market snapshot is a reminder that trading conditions remain mixed: marginal declines in major assets alongside higher volatility and selective winners mean that marketing messages and trading strategies need to be tailored to audience risk tolerance and regional regulatory limits. Crypto.com’s newsletter itself notes jurisdictional constraints in product availability, a practical consideration for affiliates operating across multiple markets.

Source: Crypto.com affiliate newsletter, June 2026.

MEXC expands beyond futures with RealStocks, offering access to U.S. stocks and ETFs via USDT.

Crypto trading is becoming less isolated from the rest of the market. Users who once came to exchanges mainly for tokens, spot pairs, and futures are now tracking equity themes, macro moves, and alternative assets in the same daily workflow.

MEXC’s April data gives one recent example. INTC futures volume rose 1,684 percent month over month, while AMD, TSM, and NVIDIA-linked futures also posted triple-digit growth. Activity also increased across QQQ, GOOGL, and SP500 futures, showing how traditional market themes are moving deeper into crypto exchange behavior.

For MEXC users, this interest has already been visible through TradFi-linked futures. The exchange says the category now covers more than 130 traditional financial assets, including U.S. equities, stock indices, ETFs, precious metals, commodities, and foreign exchange products. RealStocks extends that path from futures exposure into U.S. stock and ETF access. Eligible users can reach U.S.-listed stocks and ETFs through licensed broker and clearing infrastructure, transact in USDT and use MEXC’s existing interface.

A different route into U.S. stocks

U.S. stock access is now one of the areas where crypto exchanges and RWA platforms are testing different models. Bitget Reality, Ondo Stocks and xStocks have helped shape the tokenized equity narrative. Gate Stocks and Binance’s stock-access plans, including bStocks, point to another route where exchanges bring stock and ETF access closer to existing users.

For users comparing these options, the distinction is practical. Tokenized products may appeal to those who want on-chain portability or DeFi connectivity. Broker-based stock access may appeal to users looking for a route closer to traditional equity ownership, including dividend or distribution eligibility where applicable. RealStocks sits in that second group while keeping the trading flow close to crypto user habits.

How RealStocks fits the MEXC user journey

MEXC says RealStocks was validated by more than 20,000 users during its beta phase before the official launch. The product is connected through Atomic Vaults. MEXC describes the company as a U.S. FINRA-licensed broker-dealer and brokerage infrastructure provider backed by Founders Fund and ARK Invest.

Through that structure, eligible users can access thousands of U.S.-listed stocks and ETFs. Trading hours follow Nasdaq market sessions, and settlement follows a T+1 structure. Where applicable, users may also receive dividends or distributions on their holdings.

For someone who already holds stablecoins, RealStocks keeps U.S. equity access closer to the exchange workflow they already know. Users can test stock and ETF access through USDT-based trading without moving into a separate brokerage environment.

RealStocks makes MEXC’s “Gateway to Infinite Opportunities” initiative easier to understand in product terms. Users already encounter crypto assets, tokenized products, TradFi-linked futures, commodities, precious metals and other market-linked instruments inside the MEXC ecosystem. RealStocks adds U.S. stock and ETF access to that mix.

A trader may begin with spot crypto, then move into futures during periods of higher volatility. When U.S. technology stocks are active, the same user can follow AI semiconductor futures and use RealStocks to access listed U.S. equities or ETFs. For users, the value is straightforward: fewer separate systems when they are following several market themes at once.

Zero Fees and launch incentives lower the first step

Fees matter most when users test a new product for the first time. MEXC says RealStocks carries zero platform trading fees during the launch period where available. For users entering a new asset category, this can reduce concerns around onboarding, funding, currency conversion, and trading costs.

The launch also includes limited-time incentives for eligible users, including activity-based rewards and support for real-time market data access.

MEXC has also used zero-fee positioning across other parts of its ecosystem. In April, the company highlighted user fee savings during its 0-Fee Fest, including activity from TradFi-linked futures products. For active users, the relevance is clear. A new asset category becomes easier to test when they are already moving between different market themes.

From crypto account to wider market access

For exchanges, competition is expanding beyond token availability and trading fees. Users are also looking at how easily a platform lets them move between crypto assets, equity themes and other market-linked products.

RealStocks strengthens MEXC’s position in this market by adding U.S. stock and ETF access to a platform where users already encounter crypto assets, tokenized products and TradFi-linked futures. It connects the company’s “Gateway to Infinite Opportunities” message to a practical trading experience built around USDT funding and the existing MEXC interface.

Ripple-backed SBI Holdings has expanded its role in Solana’s institutional ecosystem after its crypto subsidiary secured responsibility for managing the SOL treasury operations of Tokyo-listed WIZE.

According to an announcement from SBI VC Trade, the company will oversee the trading, custody, storage, and management of Solana (SOL) assets held under WIZE’s corporate treasury strategy. The arrangement places SBI VC Trade at the center of WIZE’s efforts to build and maintain a SOL-based treasury as part of its long-term business plans.

Operating through its institutional platform SBIVC for Prime, SBI VC Trade said it will provide services covering cryptocurrency trading, asset management, treasury management, and Web3-related support for large-scale clients. Under the agreement, WIZE will use the platform for transaction execution and custody of its Solana holdings.

WIZE launched its Solana Treasury Business in 2025, positioning SOL as a key component of its balance-sheet strategy.

The company has previously stated that digital assets could eventually complement its existing social entertainment and media operations. Through the new partnership, SBI VC Trade will handle the operational side of acquiring, storing, and managing those holdings.

WIZE selects SBI for institutional Solana support

Details released by SBI VC Trade show that WIZE selected the firm after evaluating multiple service providers. According to the announcement, factors considered during the review included regulatory compliance, operational security, and the ability to support institutional digital asset activities.

Registered to provide crypto-related services in Japan, SBI VC Trade operates under the country’s regulatory framework for digital asset businesses. The company is part of SBI Holdings, which has maintained a long-standing relationship with Ripple through investments and business partnerships.

For SBI VC Trade, the deal adds another institutional client to its growing digital asset business. The company said services offered through SBIVC for Prime are designed for corporate and institutional customers seeking trading, custody, and asset management solutions.

Institutional interest in Solana continues to grow

Elsewhere in the market, several recent developments have pointed to rising institutional engagement with Solana.

Only weeks before the WIZE announcement, Wall Street banking giant Morgan Stanley resubmitted an application for a spot Solana exchange-traded fund in the U.S.

The proposed fund, which would trade under the ticker MSOL if approved, is designed to hold SOL directly while staking a portion of the assets to generate yield for investors. According to the filing, the ETF would be listed on NYSE Arca pending approval from the U.S. Securities and Exchange Commission.

The SBI-WIZE partnership arrives as asset managers, treasury-focused firms, and financial institutions continue to explore Solana-related products and investment strategies.

Separate from its Solana activities, SBI Holdings recently entered the artificial intelligence sector through a partnership with Anthropic. According to SBI, the collaboration will bring Anthropic’s Claude AI technology into company operations. The announcement followed Anthropic’s confidential filing for an initial public offering, which was submitted earlier this year.

Republicans in the U.S. House are moving to fold prediction-market restrictions into a stalled congressional stock-trading ban, as lawmakers assess whether members should be permitted to wager on elections or public policy outcomes. House Administration Committee Chair Bryan Steil plans to attach prediction-market provisions to H.R. 7008, the stock trading ban bill, before it advances to the floor, according to Bloomberg Government. The measure would be paired with new limits on how lawmakers may engage with prediction markets, signaling a more comprehensive approach to financial conduct in Congress.

The effort comes amid heightened regulatory scrutiny of prediction markets and renewed interest in tightening rules governing legislators’ financial activities. As part of the discussion, Steil indicated that the House leadership will be asked to consider the measure, which would blend stock-trading restrictions with enhanced restrictions on prediction-market participation by lawmakers.

No full ban on lawmakers’ prediction market use in Steil proposal

Under Steil’s draft framework, prediction markets would not be banned outright for members of Congress. Instead, certain contracts would be restricted. Bets tied to elections or public policy would face limitations, while wagers linked to sports or entertainment outcomes, such as the Super Bowl, would remain permissible. Steil noted that the House lacks clear rules for how members should engage with prediction markets, suggesting the legislation aims to fill a regulatory gap rather than condemn the product itself. “I don’t think this is a critique of the underlying product one way or the other,” he said.

Regulatory scrutiny and historical context for prediction markets

Prediction markets have increasingly drawn regulatory attention due to concerns about market integrity, transparency, and potential conflicts of interest in political forecasting. Regulators in several jurisdictions have challenged or restricted election-related contracts, gambling considerations, and potential insider-like trading within these platforms. The evolving policy landscape has prompted discussions about how such markets should be treated under existing securities or gambling laws, as well as how they align with broader AML/KYC requirements and consumer protections. Regulatory developments in this area have been analyzed by industry outlets and research teams as part of ongoing debates about market structure and financial supervision. Cointelegraph has highlighted that pushback has occurred in multiple jurisdictions, illustrating the cross-border complexities of integrating prediction markets into mainstream financial regulation.

Polymarket promotions, disclosures, and compliance considerations

Separately, Politico reported that several influencers publicly promoted Polymarket after payments connected to the company’s chief marketing officer. PayPal transaction records reviewed by Politico show at least $350,000 in payments routed through a personal account linked to Polymarket’s CMO, Matthew Modabber, alongside more than $2.5 million directed to hundreds of recipients over a 14-month span. At least 20 creators subsequently posted about Polymarket on X, often without disclosing financial ties, including individuals such as Brian Krassenstein and Riley Gaines. Polymarket did not provide a response when contacted by Cointelegraph prior to publication.

Polymarket rose to prominence in 2024 after users placed high-profile bets on Donald Trump’s election outcome, underscoring the potential real-time signaling value of prediction markets while also highlighting regulatory and governance questions surrounding how such platforms monetize and disclose promotions. The episode feeds into broader concerns about influencer marketing, sponsorship transparency, and the adequacy of disclosure in the rapidly evolving prediction-market ecosystem. Regulators have already expressed interest in the governance and disclosure frameworks of these platforms as part of a wider effort to ensure market integrity and consumer protection.

Context for policy, enforcement, and institutional impact

As lawmakers weigh a more nuanced approach to prediction-market trading by members, the discussion intersects with a broad regulatory agenda involving the U.S. Securities and Exchange Commission, Commodity Futures Trading Commission, and Department of Justice, as well as international frameworks such as the European Union’s MiCA regulation. For crypto firms, exchanges, banks, and institutional investors, the evolving stance toward prediction markets translates into several practical considerations:

• Licensing and oversight: Platforms offering prediction-market products may face enhanced licensing requirements or stricter registration standards, particularly if markets touch on political outcomes or public policy signals.
• AML/KYC compliance: Expanded rules could demand stronger customer due diligence, transaction monitoring, and heightened disclosure obligations for marketing campaigns and promotions tied to political or policy bets.
• Cross-border considerations: Different regulatory regimes could create a patchwork of compliance requirements, influencing where operators can offer services and how they market them internationally.
• Risk management and governance: Institutions must assess the potential reputational and legal risks associated with endorsements, influencer campaigns, and the disclosure of compensation tied to platform promotions.

These developments matter not only for lawmakers’ personal trading but also for the broader ecosystem of prediction-market operators, crypto exchanges, and traditional financial institutions interacting with these markets. The debate illustrates how policy designers are balancing the perceived transparency and real-time information signals from prediction markets against concerns about market manipulation, insider risk, and the appropriate boundaries for political-economic forecasting tools.

Closing perspective

As the House contemplates a more integrated framework for regulating prediction markets alongside a stock-trading ban, observers should monitor how these provisions evolve and how they interact with existing enforcement priorities and international policy harmonization efforts. The coming weeks will clarify whether the proposal gains floor support and how regulators will reconcile technical market design with legal governance, disclosure standards, and cross-border compliance requirements.

Latest developments: Sen. Angela Alsobrooks said she will not support the Clarity Act on the Senate floor unless negotiators reach agreement on ethics provisions and other outstanding issues.

• Alsobrooks said ethics concerns remain a major sticking point, alongside illicit finance provisions and work still needed in the Agriculture Committee.
• She characterized her committee vote advancing the bill as support for continued bipartisan negotiations, not unconditional support for final passage.
• “We’re almost there, but not quite there yet,” Alsobrooks said of the negotiations.
• Alsobrooks joined Rebecca Rettig and Renato Mariotti on CoinDesk’s The Policy Protocol.

The compromise: Alsobrooks defended the stablecoin yield language that drew criticism from JPMorgan Chase CEO Jamie Dimon and parts of the banking industry.

• She said she was among the first senators to raise concerns that allowing interest-bearing stablecoins could trigger deposit flight from community banks.
• According to Alsobrooks, negotiators spent roughly nine months crafting language that bars crypto firms from paying yield solely on stablecoin balances and prevents firms from offering products that mimic bank accounts without bank-like protections.
• She argued the final compromise balances industry innovation with consumer and banking-sector protections, even if neither side is fully satisfied.

Why it matters: Alsobrooks framed crypto regulation as a response to growing consumer adoption rather than a speculative future policy debate.

• She noted that tens of millions of Americans already own cryptocurrency and said lawmakers have a responsibility to establish consumer protections.
• The senator argued that digital assets represent an economic opportunity many younger Americans believe they need as traditional paths to wealth become less attainable.
• She said the goal is to ensure the U.S. remains a leader in digital asset innovation while protecting consumers from harm.

Reading between the lines: Alsobrooks suggested Democratic skepticism toward crypto legislation is driven less by the technology itself than by concerns about corruption, ethics and fraud.

• She pointed to concerns involving President Trump’s business interests and broader questions about ethics in the digital asset space.
• She said many lawmakers remain focused on preventing scams and strengthening protections for consumers who have already suffered losses.
• Alsobrooks argued that remaining engaged in negotiations is the best way to ensure constituents have a voice in shaping the final rules.

What comes next: The senator outlined a short list of priorities needed to move the legislation across the finish line.

• Negotiators must finalize ethics provisions acceptable to both parties.
• Lawmakers are still working through illicit finance language championed by Sen. Catherine Cortez Masto.
• The Agriculture Committee must also reach a bipartisan agreement before final Senate consideration can proceed.

Grayscale Investments has filed with the U.S. Securities and Exchange Commission to launch a spot Canton Coin exchange-traded fund, extending its recent push into crypto investment products just days after its Hyperliquid staking ETF began trading.

According to a registration statement submitted to the SEC, the proposed Grayscale Canton ETF would hold Canton Coin (CC) directly and issue publicly traded shares designed to track the token’s market performance. The filing adds Canton Coin to a growing list of digital assets Grayscale has sought to package into regulated investment vehicles.

Under the proposed structure, investors would gain exposure to CC through brokerage accounts without having to purchase, store, or manage the token themselves. The filing states that the trust’s assets would consist primarily of Canton Coin held on behalf of shareholders.

Market reaction remained muted despite the ETF application. Per data from crypto.news, Canton Coin fell 2.8% over the past 24 hours as investors pulled back from risk assets following Bitcoin’s sharp decline toward the $60,000 support level. The broader cryptocurrency market also came under pressure, with total market capitalization dropping 4.8% to roughly $2.18 trillion during the same period.

Grayscale expands crypto ETF lineup

The Canton filing arrives shortly after Grayscale’s Hyperliquid staking ETF entered the market. The fund received SEC approval and began trading on June 3. The investment product has attracted nearly $5 million in net inflows during its first two trading sessions. 

Grayscale priced the fund with a 0.29% management fee, a level that reportedly helped it compete against rival issuers seeking exposure to Hyperliquid’s HYPE token.

Canton Network, whose native asset is Canton Coin, operates as a blockchain platform focused on financial institutions and enterprise users.

According to project materials referenced in the filing, the network is designed to connect traditional financial infrastructure with blockchain-based systems while offering privacy controls for participants.

Recent months have seen Grayscale pursue multiple crypto-focused ETF products beyond Bitcoin and Ethereum. Alongside the Canton proposal, the company has introduced products linked to XRP and Solana while continuing to add new filings tied to alternative digital assets.

BNB filing advances through review process

Elsewhere in its ETF pipeline, Grayscale recently updated its registration paperwork for a proposed spot BNB ETF.

On June 3, the asset manager disclosed the fund’s ticker symbol through an amended S-1 filing submitted to the SEC. While the update signaled progress in the review process, several details remain undisclosed.

The amended filing does not specify a management fee, indicate whether the trust plans to stake its BNB holdings, or describe any fee waiver arrangements. The revision followed the launch of a competing BNB ETF from investment manager VanEck.

Key Takeaways

• New Glenn, Blue Origin’s flagship rocket, suffered a catastrophic explosion at its Cape Canaveral launch facility in late May 2026, causing significant infrastructure damage.
• Within a week of the disaster, Jeff Bezos announced via X that the company has identified a “solid path forward” to resume launches before year-end 2026.
• Shares of AST SpaceMobile plummeted 15% immediately following the explosion and continue trading approximately $26 below pre-incident prices.
• Karman, which manufactures components for New Glenn, experienced a 13% stock decline to $57.50 and has yet to recover meaningfully.
• Despite market turbulence, both affected companies maintain their original business projections, with AST SpaceMobile targeting early 2027 for commercial operations.

A catastrophic failure struck Blue Origin in late May 2026 when its New Glenn rocket exploded at Cape Canaveral’s launch complex in Florida. The incident caused substantial damage to critical launch facilities and triggered significant volatility across space industry equities.

Just seven days after the disaster, Amazon founder and Blue Origin owner Jeff Bezos took to X to reassure stakeholders, stating the company is running a “24/7 operation with a solid path forward to launch this year.” Blue Origin’s CEO David Limp had expressed similar confidence days earlier.

Market Reaction: Space Stocks Take a Hit

The explosion’s impact on related companies was immediate and severe. AST SpaceMobile shares plunged 15% in the trading session following the incident. The stock remains depressed, currently hovering around $107—roughly $26 below its pre-explosion valuation.

AST SpaceMobile, Inc., ASTS

Karman, a key supplier providing specialized components for the New Glenn launch vehicle, saw its stock crater 13% to $57.50. Trading has remained stagnant near that level in subsequent sessions.

Even Amazon experienced modest losses, with shares dipping approximately 1% after the explosion became public.

Adrian Helfort, chief investment officer at Westwood, characterized the explosion as “a pretty big setback, an under-appreciated setback.” He emphasized the risks of relying on a single dependable launch provider. “SpaceX is great, but you can’t have just one supplier,” Helfort stated.

Business Outlook Remains Resilient

Despite the stock market turbulence, both AST SpaceMobile and Karman assert that the explosion hasn’t altered their fundamental business trajectories.

At the William Blair 46th Annual Growth Stock Conference held this week, AST SpaceMobile executives confirmed their beta direct-to-device service launch remains scheduled for later in 2026. The company continues to target the first half of 2027 for full commercial service deployment. Additionally, AST announced it secured authorization for 10×10 spectrum utilization in Brazil.

Karman CEO Jon Rambeau emphasized that the company’s space division growth projections should remain intact despite the setback. Rambeau disclosed that Karman has already secured over 90% visibility needed to achieve the midpoint of its annual revenue forecast, which projects 25% organic expansion.

William Blair analyst Louie DiPalma characterized Bezos’ confident messaging as encouraging for the broader space sector. DiPalma noted that Blue Origin serves as AST’s primary launch partner and that Karman provides New Glenn with exclusive components, including specialized aerodynamic interstage assemblies and advanced panel protection systems. William Blair’s analysis suggests New Glenn accounts for approximately 5% of Karman’s total revenue.

New Glenn represents a significant advancement in heavy-lift capabilities, designed to transport 45 metric tons to low Earth orbit. For perspective, SpaceX’s workhorse Falcon 9 rocket delivers roughly 23 metric tons.

The space sector has demonstrated remarkable strength recently despite the setback. AST SpaceMobile shares have surged 68% over the trailing month. Rocket Lab has climbed 52% during the same timeframe, while Firefly has gained 31%.

Market enthusiasm has been building in anticipation of SpaceX’s highly anticipated public offering, scheduled to price next week at an estimated $1.8 trillion valuation.

Visa has tested stablecoin settlement using Brale’s SBC token on the Canton Network, as global stablecoin issuance has surpassed $300 billion, according to S&P Global Ratings.

According to a joint announcement from Visa, Brale, and Canton Network participants, the companies have launched a proof of concept that examines whether privacy-enabled blockchain infrastructure can support institutional stablecoin payments without exposing sensitive transaction details.

The test uses SBC, a U.S. dollar-backed stablecoin issued by Brale, to simulate settlement activity on Canton while Visa evaluates whether the token could become part of its stablecoin settlement program. 

Rather than focusing on public blockchain networks, the initiative centers on a permissioned environment built for financial institutions that require tighter control over transaction visibility.

Over the past several years, Visa has steadily expanded its work with blockchain-based payments. 

Earlier programs allowed settlement in Circle’s USDC on public networks such as Ethereum, while more recent projects have explored stablecoin-funded payments, tokenized asset spending, and crypto reward cards across multiple markets.

Canton network tested for private institutional payments

Developed by Digital Asset, Canton connects permissioned blockchain applications used by institutions including JPMorgan, Goldman Sachs, BNP Paribas, and the Depository Trust & Clearing Corporation.

Unlike public blockchains, Canton is structured so transaction data is visible only to involved parties and authorized regulators. The network is also designed to support atomic settlement across tokenized assets, digital cash instruments, and other financial contracts.

In the latest proof of concept, Visa and Brale said they are assessing whether Canton can provide faster and more programmable settlement while allowing banks, payment firms, and market infrastructure providers to maintain strict controls over confidential transaction and settlement information.

The project arrives as stablecoins continue to attract attention beyond cryptocurrency trading. S&P Global Ratings said in a report published Thursday that stablecoin issuance has exceeded $300 billion globally across multiple currencies, although most activity remains tied to crypto markets.

S&P Global Ratings stated that payment stablecoins complying with the Guiding and Establishing National Innovation in U.S. Stablecoins, or GENIUS Act, could expand into merchant payments, remittances, and commercial transactions once regulatory frameworks are finalized. 

The ratings agency identified cross-border payments as one of the most promising early applications, while noting that current stablecoin payment volumes still account for only a small portion of international payment activity.

Recent Visa initiatives show how the company has been testing digital asset payments across different segments of the market. 

In May, Visa partnered with WeFi to explore stablecoin-funded card payments in parts of Europe, Asia, and Latin America. 

Another project announced this month enabled users of a Tether and Fasset-issued Visa card to spend tokenized gold while earning rewards denominated in Tether Gold. 

Separately, SBI Group launched a Visa-linked card in Japan that provides Bitcoin, Ethereum, and XRP rewards through SBI VC Trade.

Banks weigh opportunities and risks

Beyond settlement efficiency, S&P Global Ratings said stablecoins could affect traditional banking economics over time by reducing a portion of payment-related revenue and moving some funding away from insured retail deposits toward larger wholesale balances.

At the same time, the ratings agency said banks that issue their own stablecoins or tokenized deposits could benefit from new fee income and funding opportunities. 

According to S&P Global Ratings, these incentives are encouraging large financial institutions to evaluate infrastructure capable of supporting regulated payment stablecoins and tokenized deposit products while preserving privacy requirements expected in institutional markets.