Visa brings onchain credit to its growing stablecoin card business
Visa is linking its VisaNet settlement records with blockchain-based lending infrastructure, enabling lenders to finance merchants' stablecoin settlement obligations using both Visa settlement data and onchain transaction data. The move is intended to give stablecoin-linked card programs access to working capital and to broaden the use of onchain lending beyond traditional crypto markets into payment settlement.
Why It Matters
By allowing lenders to incorporate Visa settlement data into onchain credit decisions, the initiative could make blockchain lending a practical funding source for mainstream payment flows at a moment when Visa’s stablecoin activity is growing rapidly. That could lower friction for stablecoin payment programs and deepen ties between legacy payment rails and crypto-native financing tools.
Key Facts
- Integration announced: Visa will combine VisaNet settlement data with blockchain-based lending infrastructure to let lenders finance payment obligations using Visa settlement records alongside onchain transaction data.
- Early protocol example: Credit Coop — a blockchain protocol extending credit lines to businesses — is highlighted as an early example of the model.
- Credit Coop cumulative financing: Credit Coop has financed more than $2.5 billion in cumulative settlement volume since 2023.
- Credit Coop activity: The protocol’s facilities have recorded over 3,000 borrowing events and about 9,000 repayments.
- Stablecoin-linked card programs: More than 160 stablecoin-linked card programs operate on Visa’s network.
Visa is integrating its VisaNet settlement data with blockchain lending infrastructure to let lenders finance stablecoin settlement obligations using a combined view of off-chain settlement records and onchain transaction data. The company said this approach will allow lenders to assess borrowers and underwrite payment obligations with access to both Visa’s settlement information and blockchain activity. Visa pointed to Credit Coop as an early adopter of the model. According to Visa, Credit Coop has supported over $2.5 billion in cumulative settlement volume since 2023 across participating facilities, facilitating more than 3,000 borrowing events and roughly 9,000 repayments. Visa framed the example as proof that blockchain-based credit lines can be used to bankroll payment settlement needs. The announcement arrives as Visa’s stablecoin-related business expands quickly. Over 160 stablecoin-linked card programs now run on the Visa network, and payment volume on those programs has climbed nearly 200% year over year. Visa also reported that its stablecoin settlement volume has exceeded a $20 billion annualized run rate, more than 15 times the level from a year earlier. The company has said it is investing across the stablecoin stack — from blockchains and wallets to infrastructure and applications — and has joined the OpenStandard consortium, which plans to issue the OpenUSD stablecoin and includes more than 140 participating firms such as Stripe. Visa’s analytics show broader stablecoin activity is also surging: adjusted stablecoin transaction volume reached $1.79 trillion in June, with about $1.2 trillion in the prior 30 days, figures Visa attributes to its Onchain Analytics dashboard.
Keep Reading
Robinhood takes stakes in Crypto.com, OG.com in prediction markets deal
Compound Opens Institutional-Only Lending Market
Cronos Erased Two Hours of Transactions to Reverse $111 Million DeFi Exploit
