Visa Stablecoin Settlement Run Rate Tops $20 Billion
Visa Stablecoin Settlement Run Rate Tops $20 Billion
Prefer us on GoogleWEEX View
- The key variable is whether Visa’s settlement growth can keep converting into usable payment infrastructure rather than remaining concentrated in a limited group of card programs and financing partners.
- Market participants should watch whether the new credit structure helps smaller issuers manage daily settlement obligations more efficiently, since that funding requirement has been a bottleneck for startup programs.
- Competition in on-chain payments is becoming more operational. The next signal is not branding, but whether Visa, Mastercard, Stripe and their partners can scale card issuance, settlement automation and treasury management in a compliant way.
Visa said its annualized stablecoin settlement volume now exceeds $20 billion, up from $3.5 billion about ten months ago, while the payments company and Credit Coop introduced a stablecoin revolving credit line tied to card-settlement receivables.
According to Visa, more than 160 stablecoin-linked card programs were active in its fiscal second quarter, and payment volume across those programs rose nearly 200% from a year earlier. The company described the latest settlement figure as an annualized rate, not a cumulative historical total.
The new revolving credit line was launched with Credit Coop and is designed to lower funding costs for card issuers. Visa said the structure can reduce borrowing costs by as much as 30%. The product is backed by settlement receivables and uses daily settlement files together with a smart contract called Spigot to automate both financing and repayment.
Visa said startup card programs face a recurring liquidity challenge because issuers must prefund daily settlement obligations before they can cash out payment flows. The new credit facility is aimed at that gap by advancing liquidity against expected receivables rather than requiring issuers to rely entirely on their own working capital.
Visa also said Rain, one of its principal members, has financed about $2 billion through this mechanism, while Credit Coop has funded more than $2.5 billion since 2023. The company framed the expansion against a broader competitive push in on-chain payments, where established payment firms are building more direct stablecoin-based settlement rails.
Why It Matters
This update matters because it points to a more concrete phase of stablecoin adoption inside mainstream payments. The focus is moving beyond pilot programs and toward operational issues such as settlement, credit, receivables financing and issuer liquidity, all of which determine whether stablecoin-linked cards can scale.
It also highlights how competition in crypto payments is shifting toward infrastructure ownership. Firms that can combine issuance, settlement automation and financing may gain an advantage in bringing stablecoins into everyday payment workflows used by card programs, fintechs and merchants.
Milestones
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
About WEEX View
WEEX View is a crypto analysis and intelligence hub, covering the latest in Web3, AI, and global markets. Get independent research and in-depth insights to stay ahead of market trends and trading opportunities.
Latest articles
MoreVAST Raises About 3 Billion RMB in Series B Financing
AI 3D company VAST said it completed Series B and B+ financing totaling about 3 billion RMB, led by Matrix Partners, and released its Tripo P2.0 model as it expands infrastructure and commercialization.
Tether, Fasanara Capital Launch $400 Million Private Credit Fund
Tether and Fasanara Capital have launched StableFund, a $400 million private credit fund targeting short-term, asset-backed financing for small and medium-sized enterprises, with a goal of attracting $3 billion in third-party institutional capital.
U.S. Bancorp Tests USBDC Stablecoin for Cross-Border Transfers
U.S. Bancorp said it completed a cross-border payment pilot using its USBDC stablecoin on Stellar between institutions in North America and Europe, while testing issuance, redemption, freezing and recovery functions on its internal digital asset platform.
Visa Reports Sharp Growth in Crypto-Linked Card Payments
Visa said payment volume through its programs topped $20 billion in 2026, driven by growth in crypto-linked cards, while related stablecoin credit infrastructure from Credit Coop and Rain handled additional financing activity.
-- Price
