Visa's Stablecoin Settlement Soars to $20 Billion Annual Run Rate
Visa's (V) stablecoin settlement activity has reached an annual run rate of $20 billion, marking a significant increase from last year. The number of card programs linked to stablecoins operating on Visa's infrastructure has grown to over 160, with transaction volume climbing nearly 200% annually.
The company is expanding its services by integrating VisaNet settlement information with blockchain-based lending platforms. This move enables fintechs to access working capital solutions and addresses the challenge of securing funding through traditional channels.
Visa has been testing this concept with Credit Coop, a decentralized lending infrastructure that leverages smart contracts for automated funding distribution and repayment processing. The initiative has facilitated financing for over $2.5 billion in aggregate settlement volume since its launch in 2023 without recording any defaults.
Rubail Birwadker, who leads growth products and partnerships globally for Visa, noted that stablecoins are 'transforming money movement' and opening opportunities to reimagine the financial systems supporting payment processing.