Visa says stablecoin settlement volume tops $25bn annualised

In short

• Visa said on its fiscal 2026 fourth-quarter earnings call that annualised stablecoin settlement volume passed $25bn, ten times a year earlier, across ten blockchains and five regions.
• Visa Direct stablecoin pre-funding is in commercial production, initially using USDC, with more than 300 partners in the pipeline.
• The platform is live in the US, Mexico, Puerto Rico, Colombia, Switzerland and the UK.
• Stablecoin settlement is still under 2% of the $1.5tn Visa Direct moved this year, Cuy Sheffield said on X.

Visa said on its fiscal 2026 fourth-quarter earnings call that annualised stablecoin settlement volume has passed $25bn, ten times the level a year earlier, across ten blockchains and all five regions, PANews and Odaily reported. Visa Direct stablecoin pre-funding is now in commercial production, starting with USDC, with further stablecoins to follow, according to Aisengtech.

Where Visa's stablecoin platform is live

Visa runs one of the world's largest card networks. Stablecoins are digital tokens designed to hold a steady value, usually pegged to a currency such as the US dollar. The stablecoin platform covers the US, Mexico, Puerto Rico, Colombia, Switzerland and the UK, with more than 300 partners waiting to join, according to PANews. PANews also counted more than 225 stablecoin-linked card programmes, up over 70% on a year earlier, and spending volume up more than 150% across 5 million cards in over 50 countries.

How settlement reached $25bn

Visa's annualised stablecoin settlement run rate has climbed from around $7bn in April, Sri Misra said on X. Cuy Sheffield (@cuysheffield) wrote on X that the $25bn run rate is still under 2% of the $1.5tn Visa Direct moved this year, and that issuers settling in USDC can pay Visa at weekends instead of waiting for Monday bank wires. Aisengtech reported that Visa Direct's cross-border service, pre-funded with stablecoins, is now in commercial production.

What it means for remittance providers

For ordinary users and remittance providers, the change means money can move over crypto rails outside banking hours. According to Aisengtech, payout and remittance firms in Asia can now fund Visa Direct transfers with stablecoins through a live commercial service, which makes on-chain treasury a practical option for cross-border work. Stablecoin issuers and traders could see stronger demand for USDC and the other tokens Visa supports, although the run rate remains a small fraction of the $1.5tn Visa Direct moved this year.

What X is saying

Wu Blockchain said on X that Visa's settlement volume had jumped tenfold year on year, and Sri Misra said the annualised pace had climbed from $7bn in April to $25bn. Xander, allday_stocks, GAR Capital and CoinLab also posted on the disclosure.

What Visa expects next

Visa expects the roughly 50 artificial intelligence partners it has in production to double over the coming months, and further stablecoins to follow USDC, Aisengtech reported.

Questions readers ask

How does Visa stablecoin settlement work?

Visa settles stablecoins through Visa Direct, whose stablecoin pre-funding is now in commercial production. Partners can fund Visa Direct flows in USDC to begin with. According to PANews, the platform runs on ten blockchains across all five regions, while Aisengtech reports that it supports five stablecoins.

What is Visa doing with stablecoins?

Visa has moved its stablecoin business from pilots to commercial scale, with annualised settlement volume above $25bn, up tenfold from a year earlier. Its platform is live in the US, Mexico, Puerto Rico, Colombia, Switzerland and the UK, with more than 300 partners in the pipeline, according to PANews.

Where is Visa's stablecoin platform available?

Visa's stablecoin platform is live in the US, Mexico, Puerto Rico, Colombia, Switzerland and the UK. According to PANews, it runs on ten blockchains across all five regions, and Odaily reports that five stablecoins are supported.

Our view

At InvestIn.News, we think the $25bn annualised stablecoin settlement figure is best read as a run-rate from Visa's own earnings call, not as on-chain TVL or a sign that crypto payments have overtaken cards. Visa, the incumbent card network, is wiring stablecoin settlement into Visa Direct. The jump from the roughly $7bn annualised pace mentioned in April to $25bn shows how quickly Visa is scaling settlement rails, not that crypto payments have outgrown cards. We would watch for growth in settled volume beyond the run-rate, particularly the share moving through non-USDC stablecoins and the number of live merchants, to see whether this becomes durable settlement infrastructure rather than a pilot scaled up.

— Ishu Aggarwal

Follow the latest updates on Stablecoins NewsFeeds.

Ishu Aggarwal

What to watch: Visa expects its roughly 50 AI partners in production to double in the coming months and plans to support more stablecoins beyond USDC.