Visa connects VisaNet settlement data to onchain lending for stablecoin card programs

Visa is tying its settlement network to blockchain-based lending, giving stablecoin-linked card programs another route to working capital. For PSPs and card issuers, the relevant part is simple: settlement data is moving from being just an ops record into something lenders can use to underwrite and finance payment obligations.

1. Visa said on Tuesday that settlement data from VisaNet will be combined with blockchain-based lending infrastructure, so lenders can use Visa settlement records alongside onchain transaction data to assess borrowers and fund their settlement obligations.
2. Visa pointed to Credit Coop, a blockchain-based protocol that extends credit lines to businesses, as an early example. Since 2023, Credit Coop has financed more than $2.5 billion in cumulative settlement volume across participating facilities, with more than 3,000 borrowing events and 9,000 repayments.
3. The move lands as Visa’s stablecoin card business keeps growing. More than 160 stablecoin-linked card programs now operate on Visa’s network, and payment volume is up nearly 200% year over year.
4. Visa also said its stablecoin settlement volume has passed a $20 billion annualized run rate, which the company described as more than 15 times year-ago levels. In other words, this is no longer a side project sitting next to the main payments stack.
5. On its July fiscal third-quarter earnings call, Visa said it is “investing in each layer of the stablecoin stack,” including blockchains, wallets, infrastructure and applications. It has also joined the OpenStandard consortium, which plans to issue the OpenUSD stablecoin and includes Stripe among more than 140 participating businesses.

Visa’s own analytics dashboard says adjusted stablecoin transaction volume reached a record $1.79 trillion in June, with roughly $1.2 trillion over the past 30 days. For high-risk operators and their PSPs, the point is not the headline volume number by itself; it is that settlement, card issuance, and onchain credit are starting to sit in the same operating model.