Visa Expands Onchain Data Access for Blockchain Lenders as Stablecoin-Linked Cards Surge in Popularity and Demand
Table of Contents
You might want to know
• How will Visa's integration of settlement data with onchain lending infrastructure change the way lenders evaluate blockchain-based businesses?
• What does the surge in stablecoin-linked card programs mean for the broader payments and digital-asset ecosystem?
Main Topic
Visa announced on Tuesday that it will provide expanded data access to companies that lend on the blockchain, responding to a marked increase in demand for stablecoin-linked card products. The company plans to combine its settlement data with onchain lending infrastructure so that lenders can obtain clearer insights into the financial performance of fintech firms and card issuers that focus on digital assets. By furnishing this additional data, Visa aims to accelerate lending decisions and facilitate faster access to capital for businesses experiencing rapid growth.
Visa currently supports more than 160 stablecoin-linked card programs operated by issuers and program managers — a nearly 200% rise year over year — as more crypto-focused companies introduce card offerings for customers. "Stablecoin-linked cards are in hypergrowth mode," said Cuy Sheffield, Visa's head of crypto, in an exclusive interview with CNBC. Sheffield noted that new participants, including stablecoin-based neobanks and other fintech entrants, are joining Visa's network and launching cards on a weekly basis.
To help meet the spike in demand and the associated need for capital, Visa is forging partnerships that enable new issuers to tap into financing through smart contracts and onchain credit mechanisms. Sheffield highlighted a pilot with Credit Coop, which facilitates a credit facility for providers of stablecoin-linked cards. "We've been running a pilot with a company called Credit Coop that is enabling a credit facility for stablecoin-linked card providers, which we think is a positive step forward for how onchain credit can start to come into our network," he said.
Credit Coop reports that it has processed $2.7 billion in total volume via its platform using smart contracts, and it claims there have been no borrower defaults to date. Visa also noted that over the past six years, nearly $700 billion in stablecoin-denominated loans have flowed through onchain lending protocols. Although much of this lending activity remains concentrated within crypto-native markets, Visa believes that pairing settlement data with onchain lending infrastructure can give lenders a better understanding of a business’s operations and simplify the credit evaluation process.
Last year’s passage of the GENIUS Act, which established a U.S. regulatory framework for stablecoins, significantly accelerated adoption of the technology. Sheffield described the legislation as a "huge" turning point. He added that banks and major payment companies are approaching Visa to explore collaborations that use stablecoins in existing products or to co-develop new offerings.
In July, Visa launched a stablecoin platform designed to enable settlements, expand stablecoin-linked card programs, and help financial institutions access digital-asset capabilities. That move placed Visa alongside incumbents and competitors like Mastercard, which has also been investing in stablecoin infrastructure and operates its own platform. Other notable market participants such as PayPal and Circle have developed stablecoin platforms as well.
Market reaction to Visa’s initiatives has been positive: Visa shares have risen by roughly 7% year to date. By integrating settlement data with onchain credit solutions, Visa aims to reduce friction for lenders evaluating crypto-focused firms and to support the next phase of growth for stablecoin-linked card programs and related fintech innovations.
This integration of settlement data with onchain lending infrastructure could materially shorten underwriting timelines and lower uncertainty for lenders evaluating digital-asset businesses. Providing lenders with richer, verifiable transaction data enables a more granular view of revenue flows and user behavior, which in turn supports more informed credit decisions.
Key Insights Table
| Aspect | Description |
|---|---|
| Visa data integration | Visa will pair settlement data with onchain lending infrastructure to give lenders more visibility into issuers' financials. |
| Market growth | Visa supports over 160 stablecoin-linked card programs, nearly a 200% year-over-year increase. |
| Onchain credit pilots | Pilot with Credit Coop enables financing via smart contracts; Credit Coop reports $2.7B processed with no defaults. |
| Stablecoin lending volume | Visa cites almost $700B in stablecoin-denominated loans through onchain protocols over six years. |
| Regulatory tailwinds | The GENIUS Act provided a U.S. stablecoin framework, spurring greater institutional interest and adoption. |
| Competitive landscape | Visa joins competitors like Mastercard, PayPal, and Circle in building stablecoin platforms and capabilities. |
Afterwards...
Looking ahead, continued exploration of onchain credit mechanisms, verifiable settlement data standards, and interoperability between payment networks and blockchain protocols should be priorities. Financial institutions and payment firms will benefit from research into secure data-sharing frameworks and improved oracle designs that can reliably bridge offchain settlement records with onchain credit assessments.
Further work on regulatory clarity, privacy-preserving analytics, and robust risk models for crypto-native products will also be important. Emphasizing collaboration between traditional finance, payment networks, and decentralized finance developers can help unlock safer, more scalable lending options for stablecoin-linked issuers and support mainstream adoption. These areas represent practical next steps for strengthening the infrastructure that underpins stablecoin-based payments and lending.
In sum, Visa's move to expand data access for blockchain lenders is an example of how legacy payment systems can integrate with decentralized finance primitives to address real capital needs and support a rapidly expanding product class — stablecoin-linked cards — as they move toward broader adoption.