Visa Stablecoin Settlement Volume Tops $20 Billion Annualized

Visa said its stablecoin settlement volume has surpassed an annualized $20 billion, more than 15 times higher than a year ago. According to ChainCatcher, more than 160 stablecoin-linked card programs are now live globally, and related payment volume has risen nearly 200% year over year. Stablecoin card programs require daily settlement before cardholders repay, with some programs needing only a few million dollars in funding per settlement cycle and operating seven days a week. Visa said some crypto-linked card businesses are constrained by working capital needed to support continuous settlement cycles, while on-chain credit can reduce financing costs by up to 30%. Credit Coop and Visa have launched a stablecoin-denominated revolving credit tool that has processed more than 9,000 repayments on-chain. The platform has handled over $2.5 billion in cumulative financing, more than 3,000 loans and 9,000 repayments, with no defaults. Visa Principal Member Rain has used the tool to finance daily settlement since August 2023.