Why has Visa reported higher stablecoin settlement volume?

Visa said stablecoin settlement volume has passed a $20 billion annualised run rate, more than 15 times higher than a year earlier.

What are Visa stablecoin card programmes?

Visa had more than 160 stablecoin-linked card programmes live globally in its fiscal second quarter, with payment volume rising nearly 200% year over year.

How is Visa using onchain lending?

Visa is combining settlement data with onchain credit infrastructure to help stablecoin-linked card programmes access working capital.

What does Visa mean by stablecoin settlement?

Visa uses supported stablecoins to settle obligations between payment-network participants, allowing settlement to operate through blockchain infrastructure.

Why is Visa expanding stablecoin financing?

Visa said growing stablecoin card programmes need working capital to fund settlement obligations before receiving payments from cardholders.

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Visa stablecoin settlements pass $20B

Written by Jon CuthbertPublished Sep 8, 2026, 11:56 PM

Visa’s stablecoin settlement volume has passed a $20 billion annualised run rate.
The figure is more than 15 times higher than a year earlier.
Visa is expanding onchain lending to help stablecoin card programmes fund settlement needs.

Visa has reported stablecoin settlement volume above a $20 billion annualised run rate, up more than 15 times year over year.

More than 160 stablecoin-linked card programmes were live globally in Visa’s fiscal second quarter, with payment volume up nearly 200% year over year.

“Stablecoins are not only changing how money moves, they're creating opportunities to rethink the financial infrastructure that supports payments,” said Rubail Birwadker, Visa’s global head of Growth Products and Partnerships.

Visa has launched an onchain credit model that uses settlement data to help lenders fund stablecoin-linked card programmes.

The model uses stablecoin-denominated revolving credit facilities secured by settlement receivables, while Visa said borrowing costs have fallen by as much as 30%.

Visa has worked with Credit Coop since 2023 to provide settlement financing, with more than $2.5 billion in cumulative volume financed across its platform.

The company said the model could help newer stablecoin card programmes access working capital as payment volumes grow and settlement obligations increase.