TLDR
- Visa’s stablecoin settlement volume hit $25 billion on an annualized basis, representing a tenfold surge from the previous year.
- The payment network now enables five different stablecoins to operate across 10 blockchain networks spanning all five geographic regions.
- Card programs linked to stablecoins increased by more than 70% to surpass 225, supporting approximately 5 million cards.
- USDC prefunding via Visa Direct transitioned to full commercial deployment, with Inyo Global serving as the inaugural live partner.
- The Visa Stablecoin Platform is operational in six countries, with over 300 potential partners currently being evaluated.
The global payments leader Visa has achieved $25 billion in stablecoin settlement volume on an annualized basis, marking a dramatic tenfold increase compared to twelve months earlier.
CEO Ryan McInerney shared the figures during the company’s fiscal fourth-quarter earnings call on October 27. The payment giant also disclosed record annual revenue approaching $46 billion.
The $25 billion metric represents an annualized run rate calculated from Visa’s present activity levels, rather than the cumulative total processed throughout fiscal 2026.
Blockchain Network Support Doubles Year-Over-Year
Visa’s settlement infrastructure has expanded to encompass 10 distinct blockchain networks. This represents more than double the number of supported networks from a year ago, with operations now active across all five of the company’s geographic regions.
The payment processor facilitates settlement using five stablecoins: USDC, USDG, EURC, PayPal USD, and SBC, a dollar-pegged token created by Brale. According to McInerney, Visa intends to maintain flexibility, allowing clients to select the digital assets that best align with their requirements.
The expansion has accelerated rapidly. By September, Visa had disclosed an annualized settlement rate exceeding $20 billion, a significant jump from approximately $7 billion recorded during an earlier reporting period.
In the same month, Lloyds Corporate Markets Jersey executed a $750,000 USDC settlement through Visa’s network. Utilizing exchange infrastructure provided by Archax, the transaction completed in under an hour, including processing outside traditional banking hours.
Stablecoin Card Programs Experience Rapid Growth
The number of Visa’s stablecoin-connected card programs climbed by more than 70% on a year-over-year basis, surpassing 225 total programs. These initiatives support roughly 5 million cards distributed across more than 50 nations.
Transaction volume processed through these cards expanded by more than 150% during the comparable timeframe. Card issuers span multiple categories, including cryptocurrency exchanges, digital-only banks, electronic wallets, and money transfer companies.
These cards enable users to make purchases using their stablecoin holdings at any merchant accepting Visa. The card issuer handles the conversion from stablecoins to the local currency required for each transaction.
Commercial adoption is gaining momentum. In a research update released on October 1, Visa indicated that commercial and business cards accounted for approximately 17% of stablecoin-linked card volume recorded in fiscal 2026 to date.
Visa’s earnings announcement also verified that stablecoin prefunding capabilities through Visa Direct have graduated from pilot testing to full commercial availability. Inyo Global, a U.S.-based payments company, has become the first active partner utilizing the service.
This offering enables businesses to fund cross-border payments using USDC, including during periods when traditional banks are closed. Visa has announced plans to incorporate additional stablecoins, including Open USD, which debuted on September 30.
By October 15, Open USD’s circulating supply had exceeded $800 million, according to data presented during the earnings call. Visa intends to integrate this token into both its settlement infrastructure and Visa Direct product suite through collaboration with the Open Standard consortium.
The Visa Stablecoin Platform has launched operations in the United States, Mexico, Puerto Rico, Colombia, Switzerland, and the United Kingdom. McInerney noted that more than 300 prospective partners are currently under consideration.
Visa also functions as a validator on the Tempo and Canton networks and received an invitation to participate in Circle’s Arc founding validator group. Throughout fiscal 2026, the company completed over 60 stablecoin consulting projects, with nearly half occurring during the fourth quarter alone.
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