Visa is bringing traditional payments and blockchain finance closer by rolling out an onchain credit framework for stablecoin-linked card programs. The key shift here is not just stablecoin settlement. It is giving lenders a way to use VisaNet transaction and settlement history, alongside onchain records, when evaluating working capital for card programs that need to meet daily settlement obligations.
That means lending flows can be tied more closely to actual payment activity and receivables, making funding more practical for fintechs building these products. As of Visa’s fiscal second quarter this year, more than 160 stablecoin-linked card programs were live globally, with payment volume up nearly 200% year over year. Stablecoin settlement volume was above a $20 billion annualized run rate, up more than 15 times year over year.
If lenders begin treating VisaNet data as part of onchain credit decisions, this could deepen how traditional payment rails and blockchain-based financing work together.