Visa stablecoin settlements hit $20B annualized run rate

Visa said in an 8 September 2026 newsroom press release, also posted on Investor Relations, that stablecoin settlement volume recently surpassed a $20 billion annualized run rate. The company says that figure is up more than 15 times year over year.

This is a company press release on a run-rate milestone and an onchain lending product push. It is not audited trailing twelve-month settlement revenue, and it is not a regulator rule.

More than 160 stablecoin-linked card programs now operate on Visa. Payment volume on those programs is up nearly 200% year over year. Those two figures sit behind the $20 billion headline.

The same release says Visa is linking VisaNet settlement data with onchain lenders so stablecoin card programs can tap working capital. The early Credit Coop model has financed more than $2.5 billion in cumulative settlement volume since 2023, with zero defaults. Visa's Onchain Analytics Dashboard puts about $694 billion of stablecoin-denominated loans through onchain protocols since 2020.

Credit Coop has also processed more than 3,000 borrow events and 9,000 repayment events programmatically onchain. The Block repeated the run-rate and program counts from the company release.

Tokenized settlement sits next to Citi and DBS weekend USD on Swift's ledger, South Korea's February 2027 tokenized securities roadmap, the SEC's transfer-agent rewrite, and Treasury's GENIUS Act Section 3 NPRM.

If you underwrite stablecoin card programs or settlement working capital, treat Visa's binding figures as the $20 billion annualized settlement run-rate, 160-plus programs, and Credit Coop's $2.5 billion financed since 2023 with zero defaults, not as audited trailing twelve-month revenue.