Visa's Stablecoin Card Business Explodes with Over 160 Linked Programs

Visa's stablecoin card business is experiencing explosive growth, with over 160 programs linked to stablecoins for issuers and program managers. This number represents a nearly threefold increase from last year.

In a statement on Tuesday, Visa announced that it will share additional settlement data with blockchain lenders to help issuers access funding. The company plans to combine its settlement data with blockchain credit tools, providing lenders with a better understanding of a borrower's performance before money changes hands.

Cuy Sheffield, Visa's head of crypto, stated that 'stablecoin-linked cards are in hypergrowth mode.' He noted that new issuers are joining the platform every week, including stablecoin neobanks and fintech firms launching cards. To facilitate this growth, Visa is setting up funding partnerships for newer issuers to borrow through smart contracts and on-chain credit.