Visa announced integration of VisaNet settlement data with blockchain lending infrastructure, allowing stablecoin-linked card programs and fintechs to access working capital through smart-contract-automated underwriting.

The payment giant reported stablecoin settlement volume surpassed $20 billion on an annualized run rate—a 15-fold increase year over year. More than 160 stablecoin-linked card programs now operate on Visa's network, with payment volume across them growing nearly 200 percent year over year.

The infrastructure works by combining VisaNet settlement records with blockchain transaction data. Lenders use this combined data set to evaluate a payment business's performance and set appropriate financing terms. Loans are structured against settlement receivables, with repayments collected directly from incoming funds, creating an automated cycle. Visa is also developing a just-in-time funding model tied directly to settlement files.

Credit Coop serves as an early adopter. The platform has supported more than $2.5 billion in settlement volume since 2023 by providing working capital and settlement financing through smart contracts that automate funding, collateral management, and repayment. With customer authorization, Credit Coop integrates Visa settlement data with blockchain records to assess credit performance.

On-chain lending protocols have processed a cumulative $694 billion in stablecoin loans since 2020, signaling substantial existing demand and operational capacity within decentralized finance for credit services.

Visa argued in October that stablecoin lending could transition portions of the $40 trillion global credit market onto blockchains. The company views stablecoins as a catalyst for reimagining financial infrastructure and payment systems.

Cuy Sheffield, Credit Coop, said on CNBC that "stablecoin-linked cards are in hypergrowth mode," reflecting accelerating adoption of digital payment instruments.

Visa's announcement did not identify participating lenders, specify financing rates, or detail broader program availability.