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Stablecoin settlement volume at Visa (NYSE: V) has crossed a $20 billion annualized run rate, described as more than 15 times the level from a year ago, with an on-chain lending rail added to the stack on September 8.
The rail pairs real-time VisaNet settlement data with smart contracts, letting blockchain lenders assess live settlement performance before extending short-term credit to stablecoin card issuers facing working capital constraints.
The next confirmed step is the launch of Open USD, the initial token on the Visa Stablecoin Platform (VSP), followed by USDC (CRYPTO: USDC) later this year.
The numbers in focus The lending rail's first commercial application is with Credit Coop, a platform that finances stablecoin-linked card programs.
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