Visa Links VisaNet Data to Onchain Lending; $20B Stablecoin Run Rate Single-Sourced

Visa said Tuesday it is feeding VisaNet settlement data into blockchain-based lending tools, giving stablecoin-linked card programs a new route to working capital. Two independently reviewed reports, from Decrypt and Cointelegraph, confirm the announcement and its stated purpose: letting lenders assess borrowers and finance settlement obligations using a combination of Visa’s own transaction records and onchain data. A third report, from CoinDesk, could not be verified for this piece because its page returned a Vercel security checkpoint rather than article text.

What Two Sources Actually Confirm

The shared, cross-confirmed fact is narrow but concrete. Visa is combining VisaNet settlement records with blockchain lending infrastructure so that fintechs and stablecoin card issuers can borrow against their payment flows. Both Decrypt and Cointelegraph describe this as an extension of onchain lending from crypto trading desks into payment settlement itself, not a new stablecoin or card product.

That is the underlying event. Everything beyond it, including specific dollar figures, comes from a single accessible source.

The Numbers That Trace to One Outlet

Cointelegraph, citing Visa’s own disclosures, reports that stablecoin settlement volume on the network has surpassed a $20 billion annualized run rate, more than 15 times the level seen a year earlier. The same report says more than 160 stablecoin-linked card programs now run on Visa’s rails, with payment volume up nearly 200% year over year.

Cointelegraph also names Credit Coop as an early participant in the lending model. The protocol has financed more than $2.5 billion in cumulative settlement volume since 2023, spread across more than 3,000 borrowing events and 9,000 repayments, according to that report. Decrypt’s coverage does not repeat these figures. They should be read as reported by one outlet until a second source confirms them independently, not as unconfirmed or false. It is simply the current state of verification.

Why Visa Is Building This Now

The move fits a pattern Visa has signaled since its fiscal third-quarter earnings call in July, when management said the company was investing in each layer of the stablecoin stack, from blockchains to wallets to settlement infrastructure. Rubail Birwadker, Visa’s global head of growth products and partnerships, said stablecoins are “changing how money moves,” per Cointelegraph.

For card issuers running stablecoin-linked programs, the practical change is access to credit lines sized against actual settlement activity rather than traditional collateral alone. For onchain lenders, VisaNet data offers a payment history layer that pure blockchain records cannot supply on their own.

A Note on Verification

Readers building on this story, whether for a trading desk, a smaller newsroom, or an API integration, should treat the $20 billion run rate, the 160-plus card programs, and the Credit Coop lending figures as single-sourced pending a second confirmation. The core announcement itself, Visa pairing settlement data with onchain lending for stablecoin cards, is not in dispute. The scale of the business behind it still rests on one outlet’s numbers.

Sources

• decrypt.co
• cointelegraph.com
• coindesk.com