Visa Scales Stablecoin Card Network as Settlement Volume Hits $20B

The growth in stablecoin-integrated payments coincides with an expanded partnership between Visa and Credit Coop, a platform providing revolving credit facilities to card programs. By leveraging stablecoin-denominated loans, smaller card operators can bridge the daily gap between settlement obligations and incoming cardholder payments. According to Visa, this onchain financing model has reduced borrowing costs for some participants by up to 30%.

Credit Coop reports that its platform has financed $2.5 billion in cumulative settlement volume since 2023, maintaining a record of zero defaults across more than 3,000 borrowing events. Infrastructure provider Rain, a key participant in the pilot, accounts for approximately $2 billion of that total. These figures, while substantial, rely on internal disclosures from Visa and Credit Coop rather than independent audits. As the network matures, Visa is pushing toward a just-in-time funding model, aiming to shorten borrowing cycles from days to hours by automating stablecoin disbursements through smart contracts.