Visa Integrates Onchain Lending Into Stablecoin Card Settlement Infrastructure
Visa is combining VisaNet settlement data with blockchain lending to let stablecoin card programs access onchain credit for daily settlement obligations.
Why it matters
The integration signals that major payment networks are building direct bridges between traditional card settlement and DeFi lending markets, potentially expanding the use of onchain credit beyond crypto trading into mainstream payment operations. It also suggests stablecoin-linked card programs are becoming a material part of Visa's business, with the $20B annualized settlement volume representing a significant market segment.
Where the sources disagree
Year-over-year growth rate of stablecoin settlement volume on Visa's network
more than 15x year-over-year
Bankless
nearly 200% year-over-year
Cointelegraph
Bankless reported settlement volume grew more than 15x year-over-year, while Cointelegraph reported nearly 200% year-over-year growth for stablecoin payment volume.
Key facts
Visa is combining VisaNet settlement data with blockchain-based lending infrastructure to finance stablecoin card settlement obligations.
Reported by Cointelegraph
Credit Coop has financed $2.5 billion or more in cumulative settlement volume since 2023.
2,500,000,000 USDReported by Bankless
Credit Coop has facilitated more than 3,000 borrowing events since 2023.
3,000Reported by Bankless
Credit Coop has seen more than 9,000 repayments since 2023.
9,000Reported by Bankless
More than 160 stablecoin-linked card programs now operate on Visa's network.
160Reported by Bankless
Visa's stablecoin settlement volume has exceeded a $20 billion annualized rate.
20,000,000,000 USDReported by Bankless
Rubail Birwadker, Visa's global head of growth products and partnerships, said stablecoins are changing how money moves.
Reported by Cointelegraph
Onchain lending protocols have processed more than $694 billion in stablecoin loans since 2020, according to Visa's analytics dashboard.
694,000,000,000 USDReported by Decrypt
What happened
Visa announced a new initiative to merge its VisaNet settlement data with onchain lending infrastructure, enabling stablecoin-linked card programs and fintechs to access working capital through blockchain-based credit lines. The program addresses a core cash-flow problem: stablecoin card issuers must pay Visa before collecting funds from their customers, requiring them to maintain reserves or borrow to cover the gap. Visa highlighted Credit Coop as an early implementation, reporting that the protocol has financed $2.5B+ in settlement volume since 2023 across 3,000+ borrows and 9,000+ repayments with zero defaults reported. Visa's Rubail Birwadker said stablecoins are changing how money moves and creating opportunities to redesign payment infrastructure. Decrypt noted that onchain lending protocols have processed more than $694B in stablecoin loans since 2020, citing Visa's own analytics dashboard. The initiative arrives as Visa's stablecoin-linked card business scales, with 160+ programs in operation and settlement volume exceeding $20B annualized, though sources diverge on the exact year-over-year growth figure.
How the story developed
- Update
Visa announces integration of VisaNet data with onchain lending infrastructure
Visa disclosed the initiative to combine settlement records with blockchain lending protocols, enabling lenders to finance card settlement obligations using onchain data.
- First report
First report by Bankless
Visa Taps Onchain Credit for Stablecoin Card Settlement
- Update
Credit Coop begins financing stablecoin card settlement volume
The protocol started providing credit lines to stablecoin card issuers covering their Visa settlement obligations.
- Independent corroboration
Independently corroborated by Cointelegraph
Visa brings onchain credit to its growing stablecoin card business
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 8 Sept 2026, 14:59 UTC: Bankless — 1 independent source, 1 reports
- 8 Sept 2026, 16:11 UTC: Cointelegraph — 2 independent sources, 2 reports
- 8 Sept 2026, 18:16 UTC: Decrypt — 3 independent sources, 3 reports
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Bankless Crypto media | Visa Taps Onchain Credit for Stablecoin Card Settlement | Original | |
| Cointelegraph Crypto media | Visa brings onchain credit to its growing stablecoin card business | Independent | |
| Decrypt Crypto media | Visa Taps Onchain Lending to Finance Stablecoin Card Programs | Independent |
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