Visa Expands Data Offering for Blockchain Lenders

Visa is expanding its data offering for blockchain lenders by pairing settlement data with on-chain lending infrastructure. This move aims to give lenders greater insight into the financial performance of digital asset-focused fintech firms and card issuers, speeding up borrowing as these businesses grow rapidly.

The payments giant currently operates over 160 stablecoin-linked card programs for issuers and program managers, a nearly 200% increase year-over-year. Stablecoin-linked cards are in hypergrowth mode, according to Cuy Sheffield, head of crypto at Visa.

To meet the demand surge and need for capital, Visa is establishing partnerships with new issuers who can access financing programs through smart contracts and on-chain credit. The company has been running a pilot with Credit Coop, enabling a credit facility for stablecoin-linked card providers.