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NewsDigital Assets

Visa routes onchain credit through VisaNet as stablecoin payment volume surges

Stablecoin payment volume on Visa's (V) network has climbed nearly 200% year over year, and the company is now threading blockchain lending into that growth by combining VisaNet settlement data with onchain credit. The credit product is new to Visa's stablecoin card business, which Visa characterizes as growing, and it adds a lending dimension to a program that has run as a payment and settlement operation.

By Miles BroadbentDigital Assets DeskSeptember 8, 20262 min read
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Key takeaways

  • Stablecoin payment volume on Visa's network has climbed nearly 200% year over year.
  • Visa is adding an onchain credit product to its stablecoin card business, marking a new lending dimension for a program that previously ran as a payment and settlement operation.
  • Visa routes onchain credit decisions through VisaNet settlement data, using the same infrastructure it uses for conventional settlement.
  • VisaNet settlement history serves as the credit signal while the stablecoin card network acts as the delivery channel.
  • Visa has not yet published metrics specific to the onchain credit program.

Stablecoin payment volume on Visa's (V) network has climbed nearly 200% year over year, and the company is now threading blockchain lending into that growth by combining VisaNet settlement data with onchain credit. The credit product is new to Visa's stablecoin card business, which Visa characterizes as growing, and it adds a lending dimension to a program that has run as a payment and settlement operation.

The underwriting input is the operational detail worth watching. Visa is routing onchain credit decisions through VisaNet settlement data, the same infrastructure it uses for conventional settlement activity. For anyone tracking how on-chain flow bleeds into legacy rails, that is the functional join: VisaNet settlement history becomes the credit signal, and the stablecoin card network becomes the delivery channel.

That architecture only holds at sufficient throughput. A network generating nearly 200% year-over-year growth in stablecoin payment volume has produced the transaction density that gives VisaNet's settlement data real underwriting weight. The stablecoin card business has apparently scaled to the point where the order book can support a credit product built on its own data rather than a separate assessment layer.

The setup from here is how onchain credit uptake tracks against stablecoin card volume. If both scale together, the underwriting signal stays grounded in live throughput. A gap between card volume growth and credit adoption would be the first sign of friction in the rollout. Visa has not yet published metrics specific to the onchain credit program; the next concrete read on this initiative is the performance data when Visa reports it.

Related reading

About this story

Filed by the digital assets desk of MarketPR on September 8, 2026. Source: cointelegraph.com. Indicative figures are not investment advice.

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Frequently asked

How much has stablecoin payment volume grown on Visa's network?

It has climbed nearly 200% year over year.

What data does Visa use to underwrite its onchain credit?

Visa routes onchain credit decisions through VisaNet settlement data, the same infrastructure used for conventional settlement, making settlement history the credit signal.

How is the onchain credit product different from Visa's earlier stablecoin card program?

The credit product adds a lending dimension to a program that had previously operated only as a payment and settlement operation.

Why does this credit architecture depend on high transaction volume?

The nearly 200% year-over-year growth produced the transaction density that gives VisaNet's settlement data enough underwriting weight to support a credit product built on its own data.

What is the next indicator to watch for this initiative?

The next concrete read will be the performance data when Visa reports it, particularly how onchain credit uptake tracks against stablecoin card volume.