Giant payment company Worldpay is set to venture into the world of blockchain transactions for the first time in order to gain a deeper understanding of how funds move through digital ledgers.
As reported by Bloomberg on Sept. 26, the renowned payment provider is currently in discussions with various blockchains with the aim of becoming a validator. Validators play a crucial role in monitoring and verifying transactions within digital ledgers.
Worldpay‘s web3 and crypto lead in the Asia-Pacific region, Sanchit Mall, shared that the company’s goal is to actively participate in blockchains to enhance their comprehension of money flow in digital ledgers.
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In 2024, Worldpay successfully processed stablecoin transactions worth $1.3 billion, witnessing an increase from the previous year. Despite this growth, it remains a small fraction compared to the $2.3 trillion in transactions Worldpay handles annually.
Validators play a vital role in upholding the integrity of digital ledgers by staking a portion of the blockchain’s native cryptocurrency. In return, they earn fees for overseeing and validating transactions.
Noteworthy crypto validators such as Coinbase, Metamask, Helius, and Galaxy Digital are already established in the field. Worldpay is now poised to join this elite group for the first time in its history.
Read more: Novogratz’s Galaxy Digital set to overtake Coinbase as largest Solana validator
Current data from Solana Beach reveals Helius as the leading validator for Solana (SOL) with 12.8 million SOL tokens staked, closely followed by Galaxy and Coinbase with 12.7 million SOL tokens and 11 million SOL tokens respectively.
While this marks Worldpay’s first foray into blockchain validation, the company has previously collaborated with other entities on crypto-related projects. In March 2024, Worldpay partnered with web3 payment provider Wert to enable JCB, Amex, and Discover cardholders to access web3 platforms, thereby boosting adoption rates.
Additionally, Worldpay was among the trial partners, alongside Checkout.com, for cryptocurrency custody provider Fireblocks’ payment engine in October 2022.
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