Visa Taps Settlement Data to Fuel Working Capital for Stablecoin-Linked Firms

Visa is testing whether settlement data can be used as an underwriting input to provide working capital to stablecoin-linked card programs and FinTechs. The company has announced an initiative combining VisaNet settlement data with blockchain-based lending infrastructure. This will allow lenders to access payment data in real-time, enabling them to price risk more precisely and reduce the need for excess collateral or prefunding.

The strategic prize for payment networks may be the working capital layer around transactions. As payment rails become faster and more interchangeable, the advantage shifts toward whoever can attach credit, liquidity, and treasury services directly to the payment event.

Visa has estimated that over 160 stablecoin-linked card programs were operating on its network during its fiscal second quarter, with payment volume approaching 200% year-over-year growth. The company's stablecoin settlement volume has passed a $20 billion annualized run rate, more than 15 times the year-earlier level.