TL;DR:
- Visa links VisaNet settlement data with onchain lending infrastructure to help stablecoin-linked card programs and fintechs access working capital using payment and blockchain data.
- More than 160 stablecoin-linked card programs operate on Visa’s network, while payment volume has increased nearly 200% year over year across the segment.
- Credit Coop has financed over $2.5 billion since 2023 with zero defaults, processing more than 3,000 borrow events and 9,000 repayments.
Visa is connecting its VisaNet settlement data with onchain lending infrastructure to help stablecoin-linked card programs and fintechs secure working capital. The initiative gives authorized lenders visibility into settlement receivables, the money a card program is due after payments clear, while combining that information with blockchain transaction records. The unusual bridge between card-network data and decentralized lending turns operational payment flows into potential credit signals. With stablecoin settlement volume on Visa surpassing a $20 billion annualized run rate, up 15 times year over year, the need for scalable financing is becoming harder to ignore.
The move addresses a persistent financing problem for emerging payment companies. Traditional lenders often demand scale, operating history or manual underwriting before extending credit, requirements that can constrain younger card programs even as transaction volumes grow. Visa’s model aims to replace part of that friction with data-backed underwriting and programmable settlement finance. Customer-authorized VisaNet information can be combined with onchain records to assess credit performance and automate parts of the financing process. More than 160 stablecoin-linked card programs now operate on Visa’s network, while their payment volume has increased nearly 200% year over year.
Credit Coop Pilot Shows Onchain Financing at Scale
Visa has already been testing an early version of the model with Credit Coop, a decentralized lending platform that uses smart contracts to automate funding, collateral management and repayment. The pilot provides the strongest evidence that the concept has moved beyond theory into repeatable operating activity. Since 2023, the arrangement has supported more than $2.5 billion in cumulative financed settlement volume with zero defaults across participating facilities. It has also processed more than 3,000 borrowing events and 9,000 repayment events programmatically onchain, giving Visa a substantial dataset for evaluating how blockchain-based working capital can function.
The broader significance lies in how stablecoin card growth is beginning to reshape the infrastructure behind payments, not just the assets used at checkout. By opening settlement data to blockchain lenders, Visa is effectively linking traditional payment information with programmable credit rails. The structure could give lenders clearer insight into receivables while allowing card issuers and fintechs to access financing through systems that respond more directly to live operational data. As stablecoin-linked payment volume accelerates, the combination of VisaNet information and onchain automation suggests working capital may become another major layer of blockchain-enabled financial infrastructure.
