Worldpay Set to Verify Blockchain Transactions for Enhanced InsightsIn a groundbreaking move, global payment giant Worldpay is set to verify blockchain transactions for the first time, aiming to gain deeper insights into the movement of funds across digital ledgers.
As reported by Bloomberg on September 26, the company is currently in discussions with multiple blockchain networks with the goal of becoming a validator—an essential role in which participants monitor and confirm transactions within these digital ecosystems.
Sanchit Mall, Worldpay’s web3 and crypto lead for the Asia-Pacific region, emphasized the company’s commitment to engaging with the blockchain community from the ground up. “The idea is to be part of the ecosystem right at the base,” he stated, highlighting Worldpay’s intention to directly involve itself in blockchain operations to enhance its understanding of monetary flows in these innovative platforms.
Worldpay to Join Crypto Validator Ranks as Stablecoin Transactions SurgeIn 2024, Worldpay has processed $1.3 billion in stablecoin transactions, a notable rise from less than $1 billion in 2023. Despite this growth, stablecoin activity remains a fraction of the $2.3 trillion in transactions that Worldpay handles annually.
Validators play a crucial role in safeguarding the integrity of blockchain networks. By staking a portion of the blockchain’s native cryptocurrency, validators earn fees for monitoring and verifying transactions.
Joining the ranks of prominent crypto validators like Coinbase, Metamask, Helius, and Galaxy Digital, Worldpay will become a blockchain validator for the first time in its history, signaling its deeper integration into the crypto ecosystem.
Helius Leads Solana Validation, Worldpay Expands Crypto PartnershipsAccording to data from Solana Beach, Helius currently ranks as the top validator for Solana, with 12.8 million SOL tokens staked. Trailing closely behind are Galaxy with 12.7 million SOL tokens and Coinbase with 11 million SOL tokens.
While Worldpay is making its debut as a blockchain validator, it has already been involved in several crypto-related partnerships. On March 7, 2024, Worldpay teamed up with web3 payment provider Wert to offer JCB, Amex, and Discover cardholders access to web3, boosting on-ramp adoption.
Additionally, back in October 2022, Worldpay was one of the trial partners, alongside Checkout.com, for Fireblocks’ cryptocurrency payment engine.
Abdul Barik is an experienced crypto news writer and engineer, with expertise in covering topics like blockchain technology, DeFi, smart contracts, and cryptocurrency market trends. Abdul Barik simplifies complex crypto topics, making them accessible to both beginners and seasoned investors. In his free time, he explores emerging blockchain projects and the latest innovations in the crypto world.
