Giant Payment Company Worldpay to Verify Blockchain Transactions for the First Time
Giant payment company Worldpay is set to enter the world of blockchain transactions for the very first time. The company plans to become a validator on various blockchains to gain a deeper understanding of how funds move through digital ledgers.
According to a recent Bloomberg report, Worldpay is currently in discussions with multiple blockchains with the goal of becoming a validator. Validators are crucial network participants responsible for monitoring and verifying transactions on digital ledgers.
Worldpay’s web3 and crypto lead in the Asia-Pacific region, Sanchit Mall, explained, “The idea is to be part of the ecosystem right at the base.” By directly participating in blockchains, Worldpay aims to enhance its understanding of money flow in digital ledgers.
In 2024, Worldpay processed stablecoin transactions totaling $1.3 billion in value, marking a significant increase from the previous year. While this amount is relatively small compared to the $2.3 trillion in transactions Worldpay handles annually, it highlights the company’s growing interest in blockchain technology.
Validators play a crucial role in maintaining the integrity of digital ledgers by staking a portion of the blockchain’s native cryptocurrency. In return, they receive fees for their transaction monitoring and verification services. Worldpay will soon join the ranks of notable crypto validators such as Coinbase, Metamask, Helius, and Galaxy Digital.
Helius currently holds the top position as a validator for Solana (SOL), with 12.8 million SOL tokens staked. Galaxy and Coinbase follow closely behind 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 firms on crypto-related initiatives. In March 2024, Worldpay partnered with web3 payment provider Wert to expand card acceptance for JCB, Amex, and Discover cardholders in the web3 space.
Additionally, Worldpay participated in a trial partnership with Checkout.com for cryptocurrency custody provider Fireblocks’ payment engine in October 2022.
Conclusion
Worldpay’s decision to venture into blockchain validation marks a significant step in the company’s evolution within the crypto space. By actively participating in blockchains, Worldpay aims to enhance its understanding of digital ledger transactions and further integrate itself into the growing ecosystem of blockchain technology.
As the company joins the ranks of established crypto validators, Worldpay is poised to play a more active role in shaping the future of digital finance.