Stripe · Cointelegraph
The company announced Tuesday that settlement data from VisaNet will be combined with blockchain-based lending infrastructure
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Visa highlighted Credit Coop, a blockchain-based protocol that extends credit lines to businesses, as an early example of the model.
Key facts
- Visa also said its stablecoin settlement volume has surpassed a $20 billion annualized run rate, more than 15 times year-ago levels
- Visa is combining VisaNet settlement data with blockchain lending as stablecoin payment volume on its network jumps nearly 200% year over year
- The push includes joining the OpenStandard consortium, which plans to issue the OpenUSD stablecoin and counts Stripe among more than 140 participating businesses
- Visa highlighted Credit Coop, a blockchain-based protocol that extends credit lines to businesses, as an early example of the model
Summary
Visa is combining VisaNet settlement data with blockchain lending as stablecoin payment volume on its network jumps nearly 200% year over year. Payment giant Visa is connecting its settlement network with onchain lending, giving stablecoin-linked card programs another way to access working capital, potentially expanding the role of onchain lending from crypto markets into payment settlement. The company announced Tuesday that settlement data from VisaNet will be combined with blockchain-based lending infrastructure, allowing lenders to finance payment obligations using data from the Visa network. Rubail Birwadker, Visa’s global head of growth products and partnerships, said stablecoins are “changing how money moves” and creating opportunities to rethink the financial infrastructure supporting payments.