The Midnight Foundation today announced that Worldpay and Bullish will each operate federated nodes for Midnight, the fourth-generation blockchain delivering rational privacy to web3, joining the network's growing founding alliance of node operators ahead of its mainnet launch in March.
In addition to running core network infrastructure, both organizations will develop proof of concept applications on Midnight that explore how privacy-enhancing infrastructure can unlock institutional DeFi use cases that existing public chains cannot support.
Worldpay, has joined forces with Global Payments to create one of the world’s largest and most advanced merchant services providers, the combined company now serves over 6 million merchants, processes $3.7 trillion in payments, and handles about 94 billion transactions each year across more than 175 countries.
Worldpay will explore the development of stablecoin payment infrastructure using USDG, the Global Dollar. The proof of concept will demonstrate how global merchant networks can adopt DeFi-native settlement rails while maintaining AML/KYC compliance and transaction confidentiality across B2B and B2C flows.
Bullish, an institutionally focused global digital asset platform that provides regulated market infrastructure and information services, will build Proof of Reserves on Midnight's zero-knowledge layer, enabling exchanges to cryptographically verify solvency without revealing wallet addresses, counterparties, or transaction histories - setting a new standard for transparent yet private reporting across DeFi and centralised markets alike.
“Don't trust, verify' has been a founding principle of digital asset markets, and Midnight's zero-knowledge architecture allows us to act on that without compromising confidentiality," said Chris Tyrer, President of Bullish Exchange.
"By building proof of reserves on Midnight's privacy layer, Bullish can provide cryptographic verification of solvency that satisfies the rigorous standards institutional markets demand, without exposing sensitive underlying data that our customers expect us to protect.”
Together, the two proof of concepts address the single constraint that has most limited institutional participation in DeFi – the public visibility of transaction data. Private stablecoin settlement and verifiable reserves both require selective disclosure, the ability to prove compliance or solvency without revealing positions, counterparties, or transaction flows. Midnight's zero-knowledge architecture makes these applications viable at the protocol level, removing the barrier that has kept institutional liquidity on the sidelines of DeFi.
"Building this network has always been about proving that privacy-enhancing blockchain infrastructure is ready for the institutions that need it most," said Fahmi Syed, President of Midnight Foundation. "Worldpay and Bullish each bring capabilities that expand what is possible on Midnight from day one – compliant stablecoin payments and verifiable reserves. These are the partners who will help define what institutional DeFi looks like."
With the addition of Worldpay and Bullish, Midnight's confirmed operator set now includes MoneyGram, Pairpoint by Vodafone, eToro, Google Cloud, Blockdaemon, AlphaTON Capital (on behalf of Telegram), and Shielded Technologies. The operators will secure the network at launch and provide operational stability before Midnight transitions to community-driven block production later in 2026.