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Visa links VisaNet settlement data with onchain lending for stablecoin cards
Visa said stablecoin-linked card payment volume on its network is up nearly 200% year over year, and stablecoin settlement volume has reached a more than $20 billion annualized run rate.
Visa is connecting its VisaNet settlement network with blockchain-based lending, aiming to give stablecoin-linked card programs a new way to access working capital. Cointelegraph reports that the approach combines Visa settlement data with onchain lending infrastructure so lenders can finance payment obligations using both types of records.
Under the initiative, lenders can use Visa settlement records alongside onchain transaction data to evaluate borrowers and fund their settlement obligations. Visa highlighted Credit Coop, a blockchain protocol that extends credit lines to businesses, as an early example of the model.
Credit Coop has financed more than $2.5 billion in cumulative settlement volume since 2023 across participating facilities, according to Visa. Cointelegraph also notes that the effort includes more than 3,000 borrowing events and 9,000 repayments.
The move coincides with Visa’s expansion of stablecoin-related card programs. Visa said more than 160 stablecoin-linked card programs now operate on its network, with payment volume up nearly 200% year over year, and that stablecoin settlement volume has surpassed a $20 billion annualized run rate, more than 15 times year-ago levels.