STOCKS | Visa Expands Data Services for Blockchain Lenders as Stablecoin Card Demand Surges

Visa said it will open more data resources to blockchain lending firms as demand for stablecoin-linked cards remains strong. According to Sina Finance, the company will connect its clearing and settlement data with on-chain lending infrastructure to help lenders better assess the operating and financial conditions of digital asset fintech firms and card issuers. Visa crypto business head Cuy Sheffield said stablecoin-linked cards are in a period of rapid growth. Visa currently operates more than 160 stablecoin-linked card programs for issuers and project managers, up nearly 200% year over year. Sheffield said new institutions are joining the Visa network and issuing cards every week, including stablecoin digital banks and fintech companies. Visa is also building a partnership ecosystem to help new card issuers secure financing through smart contracts and on-chain credit. Sheffield said Visa has already launched a pilot with Credit Coop to build credit lines for stablecoin card service providers. Credit Coop said its platform has processed $2.7 billion in cumulative volume through smart contracts and has not recorded any borrower defaults. Visa said stablecoin-denominated loans issued by on-chain lending protocols over the past six years have totaled nearly $700 billion. The company said the new data service can help lenders better understand companies' actual operating performance and simplify financing assessments. Visa said U.S. stablecoin legislation has established a domestic regulatory framework and significantly accelerated adoption. Sheffield called the law a major turning point, saying banks and leading global payment companies have approached Visa to integrate stablecoins into existing products or co-develop new ones. Visa shares are up about 7% this year.