Visa Taps Blockchain Lenders for Stablecoin Card Financing

Visa has announced that it will share its payment data with blockchain-based lenders to help stablecoin-linked card programs access working capital. This move comes as the demand for stablecoin cards surges, with over 160 such programs operating on Visa's network and payment volume growing by nearly 200% year-over-year.

The company said that its stablecoin settlement volume has surpassed a $20 billion annualized run rate, up more than 15 times from last year. To facilitate this growth, Visa is piloting a model with Credit Coop, which provides working capital and settlement financing for stablecoin-linked card programs through smart contracts.

Credit Coop combines Visa settlement data with onchain transaction records to evaluate credit performance. Since the pilot began in 2023, it has supported over $2.5 billion in cumulative financed settlement volume with no defaults.