Visa links VisaNet settlement data to onchain lending for card programs

Visa (NYSE: V) announced an approach to onchain credit that combines VisaNet settlement data with blockchain lending infrastructure, targeting stablecoin-linked card programs and fintechs seeking working capital.

According to the company, more than 160 stablecoin-linked card programs currently operate on Visa's network, with payment volume on those programs growing nearly 200% year over year. Visa's stablecoin settlement volume has surpassed a $20 billion annualized run rate, up more than 15 times year over year.

Visa cited data from its own Onchain Analytics Dashboard showing that more than $694 billion in stablecoin-denominated loans have been processed through onchain lending protocols since 2020.

The announcement includes a reference to Visa's existing work with Credit Coop, a company that uses smart contracts to automate funding, collateral management, and repayment for stablecoin-linked card programs. With customer authorization, Credit Coop combines Visa settlement data with onchain transaction records to assess credit performance. The model has supported more than $2.5 billion in cumulative financed settlement volume since 2023, with the company reporting zero defaults across participating facilities. The infrastructure has processed more than 3,000 borrow events and 9,000 repayment events onchain.

"Payment companies have always had good collateral in their settlement receivables, but no way to show lenders how it performs in real time," said Chris Walker, founder and CEO of Credit Coop.

The announcement is part of Visa's broader stablecoin strategy, which also includes the recent launch of the Visa Stablecoin Platform for stablecoin settlement and expanded digital asset capabilities for financial institutions.

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