Global payment giant Worldpay is preparing to verify blockchain transactions for the first time as part of its efforts to better understand the flow of funds through digital ledgers. According to a Bloomberg report from Sept. 26, Worldpay is currently in discussions with several blockchains to become a validator—a role that involves monitoring and verifying transactions within digital networks.
Sanchit Mall, Worldpay’s web3 and crypto lead for the Asia-Pacific region, explained the company’s motivation, stating, “The idea is to be part of the ecosystem right at the base.” By directly participating as a validator, Worldpay aims to gain a deeper insight into how funds move within blockchain systems.
In 2024, Worldpay processed stablecoin transactions worth $1.3 billion, a rise from under $1 billion in 2023. Despite this increase, blockchain-related transactions still make up a small portion of the $2.3 trillion in total transactions the company handles annually.
Validators play a critical role in maintaining the security and accuracy of blockchain networks. To become a validator, participants must stake a portion of the blockchain’s native cryptocurrency, earning fees in return for verifying and securing transactions. Major crypto validators like Coinbase, Metamask, Helius, and Galaxy Digital already dominate this space, and Worldpay plans to join them for the first time.
Worldpay has a history of engaging with blockchain initiatives. In March 2024, it partnered with web3 payment provider Wert to enhance card acceptance in the web3 space. Additionally, in October 2022, Worldpay was part of a trial with Checkout.com to support Fireblocks’ payment engine for cryptocurrency custody.
This move signals Worldpay’s commitment to deepening its involvement in the growing blockchain ecosystem.
Source: crypto.news
