Visa Plugs Stablecoins into the Real Economy

Visa is expanding its stablecoin platform, VSP, which allows for settlements and expands stablecoin-linked card programs. The move aims to help financial institutions access new digital asset capabilities. Visa has already seen significant growth in its stablecoin-linked card programs, with over 160 programs globally representing a 200% increase year-on-year.

The company is also establishing partnerships to allow new issuers access to financing programs through smart contracts and onchain credit. This is part of Visa's effort to connect its settlement data with blockchain-based lenders, helping the fast-growing stablecoin card ecosystem access working capital more efficiently.

Credit Coop is one such partner, enabling a credit facility for stablecoin-linked card providers. According to Visa Head of Crypto Cuy Sheffield, 'stablecoin-linked cards are in hypergrowth mode'.