Visa Stablecoin Settlement Volume Exceeds $20 Billion Annualized

ChainCatcher report: Visa, the payment technology company, has achieved an annualized stablecoin settlement volume exceeding $20 billion, more than a 15-fold increase compared to a year ago. Over 160 stablecoin-linked card programs are now live globally, with related payment volumes growing nearly 200% year-over-year. Stablecoin card programs require daily settlement before cardholders repay their balances; some projects require only millions of dollars in capital per transaction and settle continuously seven days a week. Visa notes that certain crypto-linked card businesses are constrained by working capital needed to support continuous settlement cycles, and on-chain credit can reduce financing costs by up to 30%. Credit Coop, in partnership with Visa, has launched a stablecoin-denominated revolving credit facility, which has executed over 9,000 repayments on-chain. The platform has raised over $2.5 billion in total funding, processed more than 3,000 loans and 9,000 repayments with zero defaults. Visa Principal Member Rain has been using this tool to finance daily settlements since August 2023.