Visa stablecoin settlement volume exceeds $20 billion annualized rate, 15‑fold YoY increase
Visa stablecoin settlement volume hits $20 billion annualized rate
Visa announced that the total value of transactions settled through its stablecoin‑linked card programs now exceeds a $20 billion annualized run rate. This represents more than a 15‑times increase compared with the same period last year.
Key numbers
- Over 160 stablecoin‑linked card programs were live worldwide in Visa’s fiscal second quarter.
- Payment volume on those programs grew by nearly 200 % year over year.
- Borrowing costs for participating programs have fallen up to 30 % as more lenders join.
- Credit Coop’s revolving credit facility has financed more than $2.5 billion in cumulative volume since 2023.
Visa’s statement
Visa said the rapid expansion of stablecoin‑linked cards is creating a working‑capital need for issuers, who must fund daily settlement obligations before receiving payments from cardholders. Early‑stage programs may need only a few million dollars each day, making traditional warehouse financing less practical.
Credit facility by Credit Coop
Visa partnered with Credit Coop to launch a stablecoin‑denominated revolving credit facility. The facility is secured by settlement receivables and uses Visa’s daily settlement files together with Credit Coop’s Spigot smart contract to size funding and automate repayments.
Impact on card issuers
According to Visa, some early‑stage programs are now limited more by access to working capital than by demand or network capacity. The new credit facility aims to lower financing costs and provide same‑day funding based on the net amount owed for each settlement cycle.
Why it matters
Stablecoins are a type of cryptocurrency designed to keep their value stable, often pegged to a fiat currency. By enabling faster, cheaper settlement for card transactions, Visa’s growing stablecoin ecosystem could increase adoption of crypto‑linked payment cards and reduce financing costs for issuers.
