Visa has achieved a major milestone in its stablecoin operations, with annualized settlement volume surpassing $25 billion. This figure represents a tenfold increase compared to the same period last year, highlighting the rapid adoption of stablecoins within the payment giant's ecosystem. The growth was revealed during Visa's fiscal fourth-quarter earnings call on October 27, where CEO Ryan McInerney also reported record annual revenue of approximately $46 billion.
The company's stablecoin settlement network now spans 10 blockchains across all five of its geographic regions, more than double the number supported a year ago. Visa currently supports five stablecoins for settlement: USDC, USDG, EURC, PayPal USD, and SBC, a dollar-backed token issued by Brale. McInerney emphasized Visa's commitment to flexibility, allowing clients to choose the assets that best fit their needs.
Visa's stablecoin-linked card programs have also seen significant growth, rising over 70% year over year to exceed 225 programs. These programs serve about 5 million cards in more than 50 countries, with transaction volume growing more than 150% over the same period. The cards enable users to spend stablecoin balances at merchants on Visa's network, with the card provider handling the currency conversion for each purchase.
Additionally, Visa Direct's stablecoin prefunding service has moved from pilot to commercial production, with Inyo Global as its first live partner. The service allows businesses to fund international payments using USDC, even outside traditional banking hours. The Visa Stablecoin Platform is now live in six markets, with more than 300 prospective partners in the pipeline.