Visa Ties Settlement Data to On-Chain Lending as Stablecoin Volume Jumps 15x
Visa says its stablecoin settlement volume passed a $20 billion annualized run rate and is now linking VisaNet data to blockchain lending to fund card programs.
AfroEuropa Newsroom
AfroEuropa desk
Visa has reported sharp growth in stablecoin activity across its network and outlined a new step to connect its settlement data with blockchain-based lending.
According to the company, stablecoin-linked card programs on its network have grown to more than 160, with payment volume on those programs rising nearly 200% year-on-year. Visa also said its stablecoin settlement volume has surpassed a $20 billion annualized run rate, representing more than 15 times growth from a year earlier.
The company's latest move pairs VisaNet settlement data with on-chain lending infrastructure, allowing stablecoin-linked card programs and fintechs to access working capital. Decrypt reported that the payment processor is combining payment settlement data with blockchain lending tools for that purpose. CoinDesk reported that Visa wants blockchain lenders to use its data to extend credit to the issuers driving the growth.
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