TLDR
- Visa’s stablecoin settlement volume has surpassed a $20 billion annualized run rate, up 15x year over year.
- More than 160 stablecoin-linked card programs now run on Visa’s network, with payment volume up nearly 200% year over year.
- Visa is combining VisaNet settlement data with onchain lending infrastructure to help fintechs access working capital.
- Credit Coop, a decentralized lending protocol, has financed over $2.5 billion in cumulative settlement volume since 2023 with zero defaults.
- The initiative processed more than 3,000 borrow events and 9,000 repayment events programmatically onchain.
Visa (V) is merging its core settlement network with blockchain-based lending, aiming to solve a working capital problem for the stablecoin card programs now running at scale on its network.
⚡️NEW: Visa now OFFICIALLY supports 160+ stablecoin-linked card programs.
The payments giant is now expanding into onchain lending, giving stablecoin-focused companies access to new financing options.
Visa's Head of Crypto Cuy Sheffield even said that stablecoin-linked cards… pic.twitter.com/NjGGlJ9XvG
— Coin Bureau (@coinbureau) September 8, 2026
The company announced Tuesday that VisaNet settlement data will be shared, with customer authorization, alongside onchain transaction records. Lenders can use that combined data to assess credit performance and automate settlement financing for stablecoin-linked card issuers.
Visa’s stablecoin settlement volume has crossed a $20 billion annualized run rate, up more than 15 times from a year ago.
More than 160 stablecoin-linked card programs are now active on Visa’s network. Payment volume from those programs is up nearly 200% year over year.
Despite that growth, Visa says many of the fintechs and emerging payment companies behind these programs struggle to get working capital from traditional lenders. The issue is that banks typically require scale, operating history, or manual underwriting before extending credit.
The new model is designed to change that by giving lenders visibility into settlement receivables, the money owed to a card program after payments clear, and pairing it with verifiable onchain data.
Credit Coop Leads the Way
Visa has already been running an early version of this with Credit Coop, a decentralized lending protocol that uses smart contracts to handle funding, collateral management, and repayment automatically.
Since 2023, Credit Coop has financed more than $2.5 billion in cumulative settlement volume across participating facilities. The program has logged over 3,000 borrowing events and 9,000 repayment events, all processed onchain with zero defaults.
Rubail Birwadker, Visa’s global head of growth products and partnerships, said stablecoins are “changing how money moves” and creating room to rethink the financial infrastructure behind payments.
Visa’s Broader Stablecoin Strategy
Visa’s stablecoin push is not new. During its fiscal third-quarter earnings call in July, management said the company is “investing in each layer of the stablecoin stack,” covering blockchains, wallets, infrastructure, and applications.
Visa has also joined the OpenStandard consortium, which plans to issue the OpenUSD stablecoin. More than 140 businesses are part of that group, including Stripe.
The announcement came roughly two weeks after CoinDesk reported that Visa was seeking a new stablecoin settlement partner with licensing capabilities across multiple regions.
Adjusted stablecoin transaction volume across the broader market hit a record $1.79 trillion in June. Volume over the past 30 days stands at around $1.2 trillion, according to Visa’s own analytics dashboard.
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