Visa's Annualized Stablecoin Settlement Volume Tops $25 Billion, CEO Says

Visa's stablecoin settlement volume has surpassed $25 billion on an annualized basis, Chief Executive Ryan McInerney said on the company's latest earnings call. The figure stands roughly ten times higher than the comparable level recorded a year earlier.

A Run-Rate Measure

The $25 billion figure is a run rate: Visa calculates it by taking recent stablecoin settlement volume and extrapolating it across a full twelve-month period. Rather than a cumulative tally, the metric reflects the pace of activity at the time it was measured, the approach the company has used to convey momentum in its digital-currency settlement business.

The mechanics behind the metric help readers weigh its significance. Settlement is the stage of card processing in which value actually moves between the financial institutions on either side of a transaction, and running that leg over public blockchains lets Visa move dollar-pegged tokens in minutes rather than the days conventionally associated with cross-border bank transfers. Even at this scale, stablecoin settlement remains small relative to Visa's overall network activity, which the company reports in the trillions of dollars annually, making the growth rate the more telling element of the disclosure.

Background: Visa's Stablecoin Rails

Visa first began piloting settlement in stablecoins in 2021, when it settled a payment obligation in Circle's USDC with crypto platform Crypto.com. In September 2023, the company expanded the capability to merchant acquirers Worldpay and Nuvei, allowing settlement legs of card transactions to be completed in USDC on public blockchains such as Ethereum and Solana.

The company has positioned stablecoin settlement as a complement to traditional fiat rails rather than a replacement, framing digital assets as one of several money-movement pathways alongside its card network and Visa Direct. McInerney has repeatedly highlighted stablecoins and tokenization initiatives on earnings calls as part of Visa's broader digital-currency strategy.

The tenfold year-over-year increase disclosed on the latest call represents the largest publicly stated figure for the program to date, and it arrives as stablecoin payments draw widening participation from established players: PayPal rolled out its PYUSD dollar stablecoin in 2023, Stripe completed its acquisition of stablecoin infrastructure firm Bridge in early 2025, and Mastercard has piloted USDC settlement with Circle since 2021. US regulators have likewise moved to formalize the sector, with the GENIUS Act enacted in 2025 to establish a federal framework for payment stablecoins.

Going forward, the run-rate figure serves as the program's main public benchmark, with subsequent readings expected on future quarterly earnings calls, where any broadening of the stablecoins and blockchains supported for settlement would also likely surface.

This content was first published on COINOTAG: https://en.coinotag.com/visa-stablecoin-settlement-tops-25-billion-annualized