Visa Stablecoin Settlement Volume Hits $20 Billion Annualized Run Rate, 15x Year Over Year
Visa's stablecoin payment business now generates over $20 billion in annualized settlement volume. The payments giant is launching a new initiative to provide blockchain lenders with access to its settlement data to fuel credit growth.
Visa announced Tuesday that its stablecoin-related settlement volume has surpassed a $20 billion annualized run rate, marking a 15-fold increase compared to the previous year. To support issuers of this rapidly growing business, Visa is now providing onchain lenders with access to its network settlement data. This integration aims to help borrowers secure financing for working capital obligations through smart contracts and credit protocols. Cuy Sheffield, head of crypto at Visa, stated that stablecoin-linked card programs are experiencing hypergrowth, noting the company currently operates more than 160 such programs. A nearly 200% year-over-year increase in program count has driven this expansion. Credit Coop emerged as a primary example of this initiative, which has facilitated over $2.5 billion in cumulative settlement volume since 2023 through more than 3,000 borrowing events. Rubail Birwadker, Visa's global head of growth products and partnerships, emphasized that stablecoins are altering the mechanics of money movement and creating new infrastructure needs within the payment system.
