Payment network giant Visa has revealed significant growth in its digital asset infrastructure, reporting an annualized stablecoin settlement run rate of $25 billion.
Disclosed by CEO Ryan McInerney during the company’s fiscal fourth-quarter earnings call on October 27, the milestone reflects accelerating institutional adoption alongside record annual revenues of approximately $46 billion. The reported figure is calculated from current operational velocity rather than total cumulative volume processed throughout the fiscal year.
Visa’s settlement network has expanded rapidly, now providing operational coverage across 10 blockchains, more than double the network count supported a year prior. The company has successfully established settlement operations across all five of its geographic regions, catering to institutional clients with diverse treasury and payment demands.
Supported settlement assets currently include USDC, USDG, EURC, PayPal USD (PYUSD), and Brale’s dollar-backed stablecoin, SBC. Management emphasized a flexible approach, allowing financial institutions to select their preferred blockchains and stablecoins based on specific operational needs.
This upward trajectory builds on steady momentum, following an annualized settlement rate above $20 billion in September and roughly $7 billion during earlier stages of blockchain integration. Practical applications continue to prove successful; notably, Lloyds Corporate Markets Jersey recently executed a $750,000 USDC settlement transaction using Archax exchange infrastructure, transferring funds to Visa within an hour outside traditional banking hours.
Surge in stablecoin-linked card programs
Alongside backend settlement growth, Visa’s consumer-facing stablecoin-linked card programs have grown by over 70% year-over-year, exceeding 225 active programs. These initiatives encompass approximately 5 million cards issued across more than 50 countries by cryptocurrency exchanges, neobanks, digital wallets, and remittance providers. Transaction volumes across these card networks surged more than 150% over the same timeframe.
Commercial and business applications are playing an increasingly vital role in this expansion. According to an October Visa research update, commercial cards accounted for approximately 17% of total stablecoin-linked card volume year-to-date in fiscal 2026, driven by corporate spending, treasury management, and cross-border supplier payments.
Visa Direct moves into commercial production
A major highlight of the earnings update was the formal transition of stablecoin prefunding via Visa Direct from pilot testing into active commercial production. U.S. infrastructure provider Inyo Global became the inaugural live partner, utilizing USDC to facilitate international payment obligations outside normal banking hours.
Visa intends to broaden its asset compatibility under the service, with plans to integrate Open USD (OUSD), which launched on September 30 and surpassed $800 million in circulating supply by mid-October, through its participation in the Open Standard consortium. The Visa Stablecoin Platform is currently live in the United Kingdom, Switzerland, the United States, Mexico, Puerto Rico, and Colombia, backed by an active pipeline of over 300 prospective partners.
Furthermore, Visa continues to engage in broader blockchain initiatives, including validator participation in Tempo and Canton, alongside joining Circle’s Arc founding validator group and conducting over 60 stablecoin consulting engagements during fiscal 2026.
