FMC Technologies, the French consortium that runs the Visa and MasterCard credit cards, is in talks with regulators and banks to provide the technology needed to enable a blockchain-based system for settlement, said a person familiar with the matter.
The person said that the banks and other regulators have not yet signed off on the use of the technology.
The blockchain has attracted widespread attention because of its promise to create a global record of transactions.
It is widely seen as an ideal way to manage information and transactions, with potential applications for everything from securities to insurance.
The consortium, which is backed by French government and state governments, has said it will launch a blockchain platform for the banks in 2019.
A consortium of banks has also announced that it is working with an unnamed US firm to create an interoperable global settlement system that could enable banks to accept payments from businesses and consumers around the world, while still keeping the information private.