"Visa's stablecoin settlement volume surpasses $20 billion ARR." Sep 08, 2026
Tuesday, 8 September 2026 · 1 min read · Listen to the episode ↗
Visa's stablecoin settlement volume has surpassed a $20 billion annualized run rate, reflecting a remarkable year-over-year growth of over 15 times. This surge is driven by nearly tripling the number of active stablecoin-linked card programs globally. However, Visa faces working capital challenges for issuers that could affect its expansion. In response, CreditCoup has introduced a stablecoin-denominated revolving credit facility, significantly lowering borrowing costs and demonstrating the increasing integration of stablecoins in traditional finance.
Visa's stablecoin settlement volume has exceeded a $20 billion annualized run rate, marking a remarkable increase of over 15 times year over year. This surge in payment volume is attributed to nearly tripling the activity of Visa's stablecoin programs, which now include over 160 active stablecoin-linked card programs globally as of Visa's fiscal second quarter.
Despite this impressive growth, Visa is facing a working capital challenge for issuers, which could impact the sustainability of its rapid expansion. In response to the evolving landscape, CreditCoup has launched a stablecoin-denominated revolving credit facility in partnership with Visa. This initiative has led to a significant reduction in borrowing costs, with rates dropping by as much as 30% as competition among lenders increases.
Rain has taken advantage of this new credit facility, successfully financing around $2 billion through more than 2,000 on-chain borrowing events. This demonstrates the practical applications of stablecoin financing in the current market and highlights the growing acceptance of digital currencies in traditional finance.
In a significant development in cross-border payments, DBS and Citi completed the first weekend U.S. dollar payment between Singapore and the U.S. using tokenized deposits. This transaction, which settled in mere minutes on September 5th, showcases the potential for tokenized assets to streamline international transactions. Citi is reportedly working on a tokenized deposit network, with plans for a launch in the first half of 2027.
On a different note, the Zonda crypto investigation continues to unfold, with Polish prosecutors charging a fifth suspect for allegedly misappropriating around $2 million from exchange users. This case highlights ongoing regulatory scrutiny in the cryptocurrency space. Additionally, Kronos has disclosed that approximately $9 million remains unrecovered following the tectonic exploit that occurred on August 30th, raising concerns about security and trust in crypto exchanges.
This summary was generated from the episode transcript and can contain mistakes.