Visa expands data-sharing with onchain lenders to support stablecoin card programs, reaching $20B annualized settlement volume.
DeFi & Yields ·
Visa is sharing VisaNet settlement data with onchain credit infrastructure providers through a pilot with Credit Coop, enabling lenders to assess credit risk for stablecoin-linked card programs in near-real time using smart contracts. The payment company's stablecoin settlement volume has reached a $20 billion annualized run rate, representing a roughly 15-fold increase year-over-year, and now operates more than 160 stablecoin-linked card programs with payment volume up nearly 200 percent annually.
The data-sharing arrangement allows lenders to evaluate borrower creditworthiness by combining settlement records with onchain infrastructure, addressing a friction point in funding growth for card programs. Credit Coop has financed between $2.5 billion and $2.7 billion in settlement volume since 2023 with no defaults reported. Visa's internal analytics indicate that stablecoin-denominated loans through onchain protocols have reached nearly $700 billion since 2020, though most activity remains within crypto markets rather than traditional payment channels.
Key questions remain open: the timeline and scope of the pilot program with Credit Coop are not specified, nor is it clear whether additional lenders beyond Credit Coop will gain access to the VisaNet data-sharing arrangement. The extent to which traditional credit evaluation standards will be applied to onchain lending activity through this partnership also remains undefined.