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V is turning stablecoin payment growth into a financing opportunity, using settlement data and smart contracts to bring onchain lending to fintechs.
Visa $V Inc. V is launching an onchain credit framework that connects traditional payment streams with blockchain-based capital. By pairing VisaNet transaction data with smart contracts, Visa enables fintech partners and stablecoin card issuers to access onchain working capital. The goal is to bring onchain lending into everyday commercial activity, offering fast-growing payment businesses a programmatic, transparent way to finance daily operations.
More than 160 stablecoin-linked card programs now operate on Visa’s network, with payment volume rising nearly 200% year over year. Stablecoin settlement volume has reached a $20 billion annualized run rate, up more than 15X year over year. Meanwhile, more than $694 billion in stablecoin-denominated loans have moved through onchain lending protocols since 2020, highlighting the scale of capital already flowing through this market.
Securing working capital remains a hurdle for emerging fintechs. Card programs require continuous liquidity to meet daily settlement obligations, yet traditional lenders demand extensive operating histories and manual underwriting. Visa’s model, developed with Credit Coop, addresses this by using settlement receivables as collateral, while smart contracts automate financing and repayments. Since 2023, the platform has supported more than $2.5 billion in cumulative financed volume with zero defaults.
