Visa brings onchain credit to its growing stablecoin card business
Visa is combining VisaNet settlement data with blockchain lending as stablecoin payment volume on its network jumps nearly 200% year over year.
Visa is combining VisaNet settlement data with blockchain lending as stablecoin payment volume on its network jumps nearly 200% year over year.
Payment giant Visa is connecting its settlement network with onchain lending, giving stablecoin-linked card programs another way to access working capital, potentially expanding the role of onchain lending from crypto markets into payment settlement.
The company announced Tuesday that settlement data from VisaNet will be combined with blockchain-based lending infrastructure, allowing lenders to finance payment obligations using data from the Visa network. The initiative enables lenders to use Visa settlement records alongside onchain transaction data to assess borrowers and finance their settlement obligations.
Rubail Birwadker, Visa’s global head of growth products and partnerships, said stablecoins are “changing how money moves” and creating opportunities to rethink the financial infrastructure supporting payments.