Worldpay plans to join blockchain ecosystem

Worldpay, the global payment giant, is set to enter the blockchain space by verifying transactions, aiming to enhance its understanding of how funds flow through digital ledgers. According to a Bloomberg report from 26th September, the payment provider is in discussions with various blockchains to become a validator—an entity responsible for monitoring and confirming transactions on digital networks. Sanchit Mall, Worldpay’s web3 and crypto lead for the Asia-Pacific region, emphasised the company’s desire to be involved at the foundational level of blockchain ecosystems.

In 2024, Worldpay has already processed stablecoin transactions worth $1.3 billion, a notable increase from less than $1 billion in 2023. However, this still represents a small fraction of the total $2.3 trillion in annual transactions handled by Worldpay. As a validator, the company will need to stake a portion of the blockchain’s cryptocurrency, earning fees for its transaction verification efforts.

Worldpay’s move into blockchain validation marks a significant step, joining a competitive field that includes well-known validators like Coinbase and Galaxy Digital. Previously, the company has engaged in crypto-related initiatives, such as partnering with web3 payment provider Wert to improve access for cardholders and participating in trials for Fireblocks’ cryptocurrency custody solutions.