Full Breakdown
Visa Expands Settlement Data Access to Boost On-Chain Lending for Stablecoin-Linked Card Programs
9/9/2026, 12:00:04 AM
Core Development: Data-Sharing Program Launched
Visa announced a new initiative that pairs its VisaNet settlement data with on-chain lending infrastructure. The program gives blockchain-based lenders real-time insight into the financial performance of stablecoin-linked card issuers, enabling faster underwriting and working-capital extensions. A pilot with the decentralized platform Credit Coop already provides revolving credit facilities secured by settlement receivables, and Visa plans to broaden the model to additional lenders.
Background & Context
The effort follows the July rollout of the Visa Stablecoin Platform, now in beta with select clients. That platform offers a managed environment for minting, redeeming, holding, and transferring stablecoins. Earlier in the year Visa added five more blockchains to its global stablecoin settlement pilot, bringing total support to nine blockchains. The expansion reflects Visa’s broader push to integrate digital-asset capabilities into its payments network.
Data & Statistics
- Visa operates over 160 stablecoin-linked card programs worldwide, a nearly 200 % increase from a year earlier.
- Annualized settlement volume for these programs has risen more than 15-fold year-over-year, now exceeding $20 billion.
- Credit Coop reports $2.7 billion in total volume processed through its smart-contract platform and no borrower defaults to date.
- Since 2023 the pilot has supplied over $2.5 billion in settlement financing, with borrowing costs for some participants falling up to 30 % according to Visa.
All figures are attributed to Visa’s press release or statements from the companies involved.
Official Statements & Responses
She added that Visa’s decades-long focus on secure, reliable payments positions the firm to apply those principles to emerging digital-money services.
Cuy Sheffield, Visa’s head of crypto, explained that the rapid growth of stablecoin-linked cards creates a financing gap that traditional warehouse facilities struggle to fill. By sharing settlement files through a secure connection and allowing lenders to cross-reference them with on-chain transaction histories, Visa aims to automate underwriting and reduce friction for smaller issuers that may need several million dollars in daily settlement capital.
Impact and Implications
The data-sharing arrangement could accelerate the scaling of stablecoin-linked card programs by lowering capital-access barriers. Faster, data-driven underwriting may attract a broader pool of lenders, potentially driving down financing costs and encouraging more fintechs and neobanks to launch stablecoin cards. If the model proves sustainable, it may reshape how everyday payment cards are funded, extending the reach of digital-asset services into mainstream commerce.
Verbatim Quotes
- “Stablecoin-linked cards are in hypergrowth mode,” — Cuy Sheffield, head of crypto at Visa
- “We've been running a pilot with a company called Credit Coop that is enabling a credit facility for stablecoin-linked card providers, which we think is a positive step forward for how onchain credit can start to come into our network,” — Cuy Sheffield, head of crypto at Visa
- “Stablecoins are not only changing how money moves, they’re creating opportunities to rethink the financial infrastructure that supports payments,” — Rubail Birwadker, global head of growth products and partnerships at Visa
- “Visa has spent decades helping make payments more secure, reliable and accessible. As new forms of digital money emerge, we see an opportunity to apply those same principles to the next generation of financial services.” — Rubail Birwadker, global head of growth products and partnerships at Visa
