Visa Hits $7B Stablecoin Run Rate and Expands to 9 Chains
Visa is accelerating its push into blockchain payments, expanding its stablecoin settlement pilot to nine networks as annualized transaction volume climbed to $7 billion.
Visa is deepening its commitment to stablecoin-powered payments after announcing a major expansion of its blockchain settlement program, adding five new networks and reporting sharp growth in processed volume.
The global payments giant said on April 29 that its annualized stablecoin settlement run rate has risen 50% since last quarter, reaching $7 billion. The update signals increasing momentum for digital-dollar settlement systems as traditional finance players race to modernize cross-border payments infrastructure.
Visa Expands Stablecoin Settlement to Nine Blockchains
Originally launched in 2023, Visa’s stablecoin settlement pilot allows participating partners to settle transactions using stablecoins instead of relying solely on conventional banking rails.
The company has now added support for:
- Arc
- Base
- Canton
- Polygon
- Tempo
These join the four networks already integrated into Visa’s settlement framework:
- Avalanche
- Ethereum
- Solana
- Stellar
Visa said the broader multi-chain rollout is designed to reduce fragmentation across blockchain ecosystems while preserving a unified infrastructure layer for institutions using the service.
That approach could be especially important as enterprises increasingly seek flexibility in choosing blockchain networks based on speed, cost, compliance features, or geographic reach.
Why Stablecoin Settlement Matters
Stablecoins — digital assets pegged to fiat currencies such as the U.S. dollar — are increasingly viewed as one of crypto’s most practical use cases. Unlike volatile cryptocurrencies, they offer predictable value while enabling near-instant transfers and programmable payments.
For companies like Visa, stablecoins can potentially improve several legacy payment pain points, including:
- Faster cross-border settlement
- Reduced intermediary costs
- 24/7 transaction availability
- Improved treasury movement between institutions
- Greater transparency through on-chain records
Rather than replacing card networks, Visa appears to be positioning stablecoins as a new settlement rail operating behind the scenes.
Visa’s Broader Crypto Strategy Accelerates
The latest announcement follows several recent blockchain-focused moves by Visa.
In March, the company expanded its partnership with Bridge, a Stripe-owned subsidiary, to support a global card program tied to stablecoin payments.
Earlier in April, Visa also launched a validator node on the Tempo blockchain, taking a more direct operational role in helping verify and process transactions on a network built for real-time stablecoin transfers.
The company has additionally partnered with WeFi, the on-chain banking startup founded by former Tether CEO Reeve Collins, to support digital asset payments using infrastructure that allows users to retain custody of their crypto rather than placing funds on centralized exchanges.
Taken together, the moves suggest Visa is no longer merely experimenting with crypto rails — it is actively building across multiple layers of the ecosystem.
Global Reach Already Underway
Visa said its stablecoin settlement pilots have already operated across:
- Latin America and the Caribbean
- Europe
- Asia-Pacific
- Central Europe
- The Middle East
- Africa
The company recently expanded USDC settlement access to U.S. banks and now supports more than 130 stablecoin-linked card programs across 50+ countries.
That scale gives Visa a potential advantage over smaller fintech rivals that may innovate faster but lack the company’s distribution network and regulatory relationships.
Analysts See Upside in Visa’s Digital Asset Push
Analysts at William Blair reiterated an outperform rating on Visa shares, arguing that markets may be underestimating the contribution of emerging growth areas such as stablecoins, agentic commerce, and value-added services.
In a note led by analyst Andrew Jeffrey, the firm said Visa is well positioned to capture additional transaction volume from stablecoin-based business-to-business settlement, even if the segment remains relatively small today.
The analysts also highlighted Visa’s participation in newer payment models, including machine-driven commerce systems and interoperability efforts linked to European digital currency initiatives.
Stablecoin Competition Intensifies
Visa’s expansion comes as rivals move quickly. Mastercard has also increased activity in stablecoin payments, including enabling stablecoin-linked spending in the United States through wallet integrations such as MetaMask.
Meanwhile, U.S. lawmakers recently advanced the GENIUS Act, a bill aimed at creating clearer rules for payment stablecoins. Regulatory clarity is widely seen as a key catalyst for broader institutional adoption.
Still, unresolved policy debates remain, including whether stablecoins should be allowed to generate yield and how market structure rules should be implemented.
According to DeFiLlama, the total stablecoin market has now surpassed $320 billion, up nearly 150% since early 2024.
As that market grows, the battle is shifting from issuing tokens to controlling the infrastructure that moves them. Visa’s latest expansion suggests it intends to be one of the dominant players powering that next phase of digital finance.
