Visa is expanding the role of blockchain-based finance in payments by combining VisaNet settlement data with on-chain lending mechanisms to help stablecoin-linked card operators secure working capital.

Payment Data Supports On-Chain Credit

The new structure is intended to give lenders a clearer view of card operators’ financial performance by combining traditional payment settlement records with blockchain transaction and repayment data. Under the model, lenders can evaluate a company’s creditworthiness using its actual Visa settlement activity and its history of repaying blockchain-based loans.

The arrangement can also provide card operators with daily funding to meet settlement obligations to Visa’s payment network. By connecting payment activity with blockchain-based lending infrastructure, Visa is seeking to extend on-chain finance beyond its traditional concentration in cryptocurrency markets and into real-world payment and settlement operations.

The initiative could allow stablecoin-linked card companies to access working capital based on actual payment performance, potentially reducing their reliance on conventional banking credit lines. In effect, the payment flow itself becomes the credit signal — a notable step in bringing routine card settlement within the scope of on-chain finance.

The approach follows Visa’s expansion of pilot programs across Europe and Asia over the past six months. Those trials explored the use of stablecoin-backed cards in markets where access to reliable funding can be affected by changing liquidity conditions and volatility.

Credit Coop Provides Early Example

Blockchain lending protocol Credit Coop is among the initiative’s early participants. The company worked with Visa to develop a revolving credit facility denominated in stablecoins, with funding supported by card receivables.

Smart contracts automate key parts of the lending process, including loan execution and repayment. According to Visa, Credit Coop has supported more than $2.5 billion in settlement volume through financing arrangements since 2023. The platform has also processed more than 3,000 borrowing transactions and more than 9,000 repayments.

Visa reported that participating facilities had recorded no defaults so far. The company said the results demonstrate the potential of combining payment records with blockchain-based repayment data to assess credit risk.

Stablecoin Card Activity Expands

The financing initiative comes as Visa’s stablecoin-related payment business continues to grow. Stablecoin-linked card programs allow holders to spend digital dollar balances through standard merchant acceptance, tying everyday card usage to on-chain liquidity. By the second quarter of fiscal 2026, more than 160 stablecoin-linked card programs were operating worldwide, while payment volume had increased by roughly 200% from the previous year.

Visa’s stablecoin settlement activity has also grown substantially. Annualized settlement volume recently surpassed $20 billion, representing more than a 15-fold increase from the level recorded a year earlier.

This growth is creating demand for funding structures that can operate continuously alongside blockchain-based payments. Traditional credit arrangements can be challenging for smaller fintech companies because obtaining facilities of sufficient size may involve lengthy reviews and restrictive lending limits.

24-Hour Settlement Model for Smaller Operators

Visa’s model is intended to address some of those limitations by giving payment and repayment data a greater role in determining access to credit. Smaller card operators could potentially obtain funding that more closely reflects their actual settlement activity instead of depending entirely on conventional lending assessments.

The blockchain-based structure also supports continuous settlement, including on weekends, which could improve liquidity management for companies operating around the clock.

By linking VisaNet payment records with on-chain credit histories, Visa is creating a financing model that connects established payment infrastructure with blockchain-based lending and liquidity.

The development reflects a broader shift in how stablecoins may be used within financial infrastructure. Rather than functioning only as digital payment instruments, stablecoins are increasingly being integrated with lending, settlement and treasury operations.

Visa’s latest initiative places on-chain lending closer to mainstream payment infrastructure while giving stablecoin-linked card providers another potential source of working capital. If expanded successfully, the model could strengthen liquidity for fintech companies and broaden the practical role of blockchain-based finance in global payments.

The combination of automated smart-contract lending, stablecoin liquidity and real payment data could provide a faster funding mechanism for emerging payment companies while supporting 24-hour settlement. How far the model reaches from here will show up in a few concrete markers: whether participation broadens beyond early movers such as Credit Coop, whether financing extends into the European and Asian markets covered by Visa’s recent card pilots, and whether participating facilities maintain their record of no defaults as settlement volumes grow.

Source: CoinTrust