Visa Expands Data Offering for Blockchain Lenders Amid Stablecoin-Linked Card Surge

Visa is expanding its data offering for blockchain lenders as demand for stablecoin-linked cards surges. The payments giant will pair its settlement data with on-chain lending infrastructure, giving lenders greater insight into the financial performance of digital asset-focused fintech firms and card issuers.

This move aims to speed up borrowing for these businesses as they grow rapidly. Visa currently operates over 160 stablecoin-linked card programs for issuers and program managers, a nearly 200% increase year-over-year as more crypto businesses launch cards for customers.

Cuy Sheffield, head of crypto at Visa, said there are new issuers, including stablecoin neobanks and fintech firms, joining the network and launching cards every week. To meet the demand surge and need for capital, the company is establishing partnerships to allow new issuers access to financing programs through smart contracts and on-chain credit.

Visa is also running a pilot with Credit Coop that enables a credit facility for stablecoin-linked card providers. This partnership has processed $2.7 billion in total volume on its platform through smart contracts, with no borrower having ever defaulted.