Visa Inc. announced Tuesday that it is linking settlement data from its VisaNet network with blockchain-based lending infrastructure, opening a new route for stablecoin-linked card programs to access working capital.
Under the initiative, lenders can use Visa settlement records alongside onchain transaction data to assess borrowers and finance their settlement obligations — a move that could extend the role of onchain lending beyond crypto markets into mainstream payment settlement.
Visa pointed to Credit Coop, a blockchain-based protocol that extends credit lines to businesses, as an early example of the model. Since 2023, Credit Coop has financed more than $2.5 billion in cumulative settlement volume across participating facilities, involving over 3,000 borrowing events and 9,000 repayments, according to the company.
"Stablecoins are changing how money moves," said Rubail Birwadker, Visa’s global head of growth products and partnerships, adding that the shift creates opportunities to rethink the financial infrastructure supporting payments.
The announcement comes as Visa’s stablecoin-related business continues to scale. More than 160 stablecoin-linked card programs now operate on its network, with payment volume surging nearly 200 percent year over year. The company also stated that its stablecoin settlement volume has surpassed a $20 billion annualized run rate, more than 15 times year-ago levels.
During its fiscal third-quarter earnings call in July, Visa management said the company is “investing in each layer of the stablecoin stack,” including blockchains, wallets, infrastructure and applications. As part of that strategy, Visa joined the OpenStandard consortium, which plans to issue the OpenUSD stablecoin and counts Stripe among more than 140 participating businesses.
Visa’s own analytics dashboard shows broader stablecoin activity remains elevated. Adjusted stablecoin transaction volume reached a record $1.79 trillion in June, while volume over the most recent 30-day period stands at roughly $1.2 trillion.
