Global payment giant Worldpay is reportedly preparing to expand its presence in the cryptocurrency sector by becoming a validator for blockchain networks.
According to a Bloomberg report from September 26, the company is in talks with several blockchain networks to take on this new role, which would involve monitoring and verifying transactions on digital ledgers.
As a validator, Worldpay would stake a portion of the blockchain’s native cryptocurrency, participating in the network’s consensus mechanism to ensure the accuracy and security of transactions. This process, known as staking, rewards validators with fees for their role in maintaining the integrity of the blockchain.
This move would place Worldpay alongside prominent crypto validators such as Coinbase, Metamask, Helius, and Galaxy Digital. On the Solana network, for instance, according to data from Solana Beach, Helius currently leads with 12.8 million SOL tokens staked, followed closely by Galaxy and Coinbase, with 12.7 million and 11 million SOL tokens, respectively.
Sanchit Mall, Worldpay’s web3 and crypto lead for the Asia-Pacific region, emphasized the company’s intention to engage directly with blockchain networks, stating,
“The idea is to be part of the ecosystem right at the base.”
This initiative marks Worldpay’s first foray into active blockchain validation, signalling a deeper commitment to the crypto ecosystem.
Worldpay has already been involved in various crypto-related projects. Earlier this year, the company reportedly partnered with web3 payment provider Wert to expand crypto on-ramp access for JCB, Amex, and Discover cardholders.
In March 2024, the company released its annual Global Payments Report, which highlighted the rapid growth of digital wallets. According to the report, digital wallets processed $13.9 trillion in global transactions in 2023, making up half of all online payments and 30% of point-of-sale transactions. It projected that this figure might exceed $25 trillion by 2027.
By becoming a blockchain validator, Worldpay aims to gain deeper insights into the flow of money through digital ledgers, potentially positioning itself at the forefront of the evolving intersection between traditional finance and the cryptocurrency sector.
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