Visa's Stablecoin Card Business Sees Explosive Growth

Visa's stablecoin card business is experiencing explosive growth, with volumes nearly tripling in just one year. The company now supports over 160 programs linked to stablecoins for issuers and program managers.

This figure is a significant increase from last year's numbers, according to Visa. The company plans to share additional settlement data with blockchain lenders, providing them with a better understanding of crypto fintech companies and card issuers.

Visa aims to combine its settlement data with blockchain credit tools, giving lenders a more comprehensive view of a borrower's performance before transactions occur.

Cuy Sheffield, Visa's head of crypto, described the growth as 'hypergrowth mode,' noting that new issuers are joining the platform every week. These include stablecoin neobanks and fintech firms launching cards.