Visa Expands Stablecoin Card Network Amid Rising Demand
Visa is significantly expanding its stablecoin-linked card network, now operating over 160 programs for issuers and program managers. This marks a nearly 200% increase year-over-year as more businesses introduce cards tied to stablecoins—cryptocurrencies pegged typically to the U.S. dollar. To meet growing demand, Visa is forming partnerships that provide new issuers access to smart contracts and onchain credit solutions. In July of this year, it launched a dedicated platform for facilitating settlements and expanding these card programs while helping financial institutions engage with digital assets. Mastercard has also been investing in stablecoin platforms as the asset class gains traction. Visa noted that $700 billion U.S. worth of stablecoin-denominated loans have flowed through onchain lending protocols over six years, signaling strong adoption and potential for growth.
