Visa Unlocks Settlement Data for Blockchain Lenders Amid Stablecoin Card Boom
Visa has opened its settlement data to blockchain-based lenders as stablecoin-linked card volume surges by nearly 200% in a year. The payments network said that over 160 stablecoin-linked card programs are now live globally, with annualized settlement volume exceeding $20 billion.
Cuy Sheffield, head of crypto at Visa, described the growth as 'hypergrowth mode'. He noted that new issuers, including stablecoin neobanks and fintech firms, are joining the network and launching cards every week.
To address the financing gap created by this rapid expansion, Visa is pairing settlement data from its VisaNet network with onchain lending infrastructure. This allows lenders to evaluate a card program's creditworthiness based on both its expected settlement receivables and blockchain transaction history, with the issuer's consent.