Crypto · updated 3h ago · 2 min read
Visa Combines VisaNet Settlement Data With Onchain Lending for Stablecoin-Linked Card Working Capital
Visa combines settlement data with onchain lending to finance stablecoin-linked card programs. Over 160 stablecoin-linked card programs live globally with ~200% year-over-year growth.
Whether borrowing costs and named operators are disclosed.
6 of 8 outlets skipped it: credit Coop uses smart contract Spigot to service repayments from incoming proceeds..
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Same story, two versions
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BigGo Finance
“Visa reported that borrowing costs declined by up to 30% for some participating programs”Read the original ↗
Decrypt
“The release did not name participating lenders or specify financing rates or broader availability.”Read the original ↗
BigGo Finance adds borrowing-cost and operator specifics, while Decrypt stresses rate and participant details were not provided.
Visa opens onchain credit
Visa said Tuesday it is combining VisaNet settlement data with blockchain lending infrastructure to help stablecoin-linked card programs and fintechs access working capital.
“Visa is combining payment network data with blockchain lending tools”
In its announcement, Visa said lenders can use VisaNet settlement data alongside blockchain transaction records to assess a payment business’s performance and determine financing terms.
Visa also said onchain lending protocols have processed more than $694 billion in stablecoin loans since 2020, and that on its own network payment volume across more than 160 stablecoin-linked card programs grew nearly 200% year over year.
Visa’s stablecoin settlement volume has surpassed a $20 billion annualized run rate, and Visa said the initiative follows its argument last October that stablecoin lending could bring portions of the $40 trillion global credit market onto blockchains.
Credit Coop pilot details
Visa highlighted Credit Coop as an early example of the model, saying it has supported more than $2.5 billion in settlement volume since 2023.
Visa said Credit Coop provides working capital and settlement financing using smart contracts to automate funding, collateral management, and repayment, and that with customer authorization it combines Visa settlement data with blockchain records to assess credit performance.
Visa also said the loans draw on settlement receivables and that repayments are collected from those incoming funds, while the release did not name participating lenders or specify financing rates or broader availability.
In a separate interview, CNBC quoted Credit Coop’s Cuy Sheffield saying, "Stablecoin-linked cards are in hypergrowth mode," and Visa said the arrangement is designed to automate parts of the underwriting and funding process as more lenders enter.
Data, demand, and next steps
Visa said it is expanding access to settlement data for blockchain lenders as stablecoin-linked card programs grow, with payment volume up nearly 200% year over year and more than 160 programs operating on its network.
“Visa said stablecoin settlement volume rose more than 15-fold”
In a statement carried by TradingView, Visa said stablecoins are “changing how money moves” and creating opportunities to rethink the financial infrastructure supporting payments, while the company also said stablecoin settlement volume rose more than 15-fold to an annualized rate above $20 billion.
Visa also said it is developing a just-in-time funding model tied directly to settlement files, where each settlement file would trigger a stablecoin payment matching the exact net amount owed.
The next phase, according to the sources, is aimed at reducing borrowing periods from days to hours and eliminating full facility draws before exact daily obligations are known, while Visa has not announced a launch date across the 160 programs.