Visa Stablecoin-Linked Cards Reach Hypergrowth Amid GENIUS Act Boost

Visa's stablecoin-linked card programs have seen explosive growth in recent months. The company now operates over 160 such programs globally, a nearly 200% increase from last year.

Cuy Sheffield, Visa's head of crypto, described this trend as 'hypergrowth.' He attributed the surge to the GENIUS Act, which established federal rules for stablecoin issuance in the United States.

New issuers are joining Visa's network at a steady rate, with large financial institutions approaching the company about building stablecoin offerings. One example is Credit Coop, which has processed $2.7 billion in volume through smart contracts with zero borrower defaults.

To support this growth, Visa is sharing more settlement data with blockchain lenders to help them evaluate financing requests from digital asset businesses.