Worldpay to Verify Blockchain Transactions as a Validator for the First Time

Worldpay to Verify Blockchain Transactions as a Validator for the First Time

Global payment giant Worldpay is set to verify blockchain transactions for the first time, aiming to gain deeper insights into how funds move across digital ledgers.

As reported by Bloomberg on September 26, the international payment provider is currently in discussions with multiple blockchain networks, with the goal of becoming a validator—entities responsible for overseeing and authenticating transactions on digital platforms.

“We want to embed ourselves in the ecosystem from the ground up,” said Sanchit Mall, Worldpay’s web3 and crypto lead for the Asia-Pacific region. Mall elaborated that by actively participating in blockchain validation, the company hopes to acquire a more comprehensive understanding of money flows within digital ledgers.

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In 2024 alone, Worldpay has facilitated $1.3 billion in stablecoin transactions—a notable increase from under $1 billion in 2023. However, this still represents a fraction of the $2.3 trillion in transactions that Worldpay processes globally each year.

Validators play a critical role in ensuring the security and accuracy of digital ledgers. This process, known as staking, involves setting aside a portion of a blockchain’s native cryptocurrency. In return, validators earn fees for their efforts in verifying and maintaining the integrity of transactions.

Among the prominent players in the crypto validation space are Coinbase, Metamask, Helius, and Galaxy Digital. For the first time in its history, Worldpay will soon join this list.

Data from Solana Beach reveals that Helius currently leads as the top validator for the Solana blockchain, staking 12.8 million SOL tokens. Galaxy and Coinbase follow closely, with 12.7 million and 11 million SOL tokens staked, respectively.

Worldpay has previously collaborated on several crypto-related initiatives. On March 7, 2024, the company partnered with web3 payment platform Wert to offer JCB, Amex, and Discover cardholders easier access to web3 on-ramps. Additionally, Worldpay was one of the early partners in a trial of Fireblocks’ payment engine, alongside Checkout.com, back in October 2022.