Visa Stablecoins Gain Ground in Business Payments

Visa's stablecoin-linked card volume has seen significant growth in business payments, accounting for about 17% of its total volume year-to-date. This marks a notable shift towards using dollar-linked tokens for settlement and cross-border transactions.

The payment giant now supports over 160 stablecoin-linked card programs across consumer, business, and commercial categories, with payment volume increasing nearly 200% year-over-year.

Visa's expansion into institutional infrastructure alongside its stablecoin-linked card programs aims to provide a seamless settlement experience for businesses. This is evident in the company's recent pilot with Lloyds Banking Group, where stablecoins were used to settle $750,000 in payment obligations within less than an hour, including transfers conducted over a weekend.

While traditional bank transfers can be hindered by operating hours and correspondent banks, blockchain settlement allows for continuous movement of funds. However, this comes with its own set of operational dependencies, including compliant access to stablecoins, custody arrangements, and reliable infrastructure.