Visa brings onchain credit to its stablecoin card business

Visa said it is combining VisaNet settlement data with blockchain lending infrastructure to help stablecoin-linked card programs finance payment obligations. The move comes as stablecoin payment volume on Visa’s network rises nearly 200% year over year.

Settlement data meets blockchain lending

Visa announced Tuesday that lenders can use Visa settlement records alongside onchain transaction data to assess borrowers and fund settlement obligations. The company plans to pair VisaNet settlement data with blockchain-based lending infrastructure to extend credit tied to payment activity.

Visa highlighted Credit Coop, a blockchain-based protocol that extends credit lines to businesses, as an early example. Credit Coop has financed more than $2.5 billion in cumulative settlement volume since 2023 across participating facilities, with more than 3,000 borrowing events and 9,000 repayments.

Stablecoin card growth accelerates

Visa reported that more than 160 stablecoin-linked card programs operate on its network. Payment volume is up nearly 200% year over year.

The company also said its stablecoin settlement volume has surpassed a $20 billion annualized run rate, more than 15 times year-ago levels.

Visa’s broader stablecoin strategy

Visa has described stablecoins as part of its payments roadmap, saying in its fiscal third-quarter earnings call in July that it is investing across “each layer of the stablecoin stack,” including blockchains, wallets, infrastructure and applications.

The push also includes Visa’s participation in the OpenStandard consortium, which plans to issue the OpenUSD stablecoin and counts Stripe among more than 140 participating businesses.

Stablecoin volumes keep climbing

Visa’s analytics dashboard cited adjusted stablecoin transaction volume reaching a record $1.79 trillion in June. Volume over the past 30 days was roughly $1.2 trillion.

Why this matters

By linking settlement records to onchain lending, Visa is creating a pathway for credit to be underwritten against payment flows rather than only market positions. For stablecoin card programs, that can translate into faster access to working capital tied to real transaction activity on Visa’s network.