Key Notes
- Visa reported a stablecoin settlement run rate above $25 billion annualized, up tenfold year on year.
- The figure describes an annualized pace, not total stablecoin settlements completed during fiscal 2026.
- Visa now supports settlement on ten blockchains and reported more than 225 stablecoin-linked card programs.
Visa’s stablecoin settlement business has passed a $25 billion annualized run rate, a tenfold increase from a year earlier, CEO Ryan McInerney said on the company’s fiscal fourth-quarter earnings call.
The figure measures the pace of settlement extrapolated over a year. It does not mean Visa settled $25 billion in stablecoins during fiscal 2026, nor does it represent revenue earned from those transfers.
McInerney gave the update during the October 27 call, according to the transcript published by The Motley Fool. Visa’s fiscal year ended September 30; the call also discussed subsequent business developments.
Settlement Expands Across Ten Blockchains
Visa said it now supports stablecoin settlement across ten blockchains, more than twice the number a year earlier, with operations in all five of its business regions. In the question-and-answer session, McInerney named five supported stablecoins: USDC, USDG, EURC, PYUSD and SBC.
The company also reported more than 225 stablecoin-linked card programs, up over 70% year on year. Those programs span five million cards in more than 50 countries, while their payment volume grew more than 150%, according to the call record.
Card spending and stablecoin settlement describe different activities. The card figures measure a consumer-facing payment channel; settlement concerns moving funds to meet financial obligations. They should not be added together as separate contributions to one total.
An Established Business Moves Beyond Pilots
The latest milestone follows an earlier expansion. In a September 8 publication, Visa said its stablecoin settlement run rate had already exceeded $20 billion. That document examined financing for card issuers that need to meet settlement obligations before receiving customer funds.
Visa described stablecoin-based credit facilities as one way to bridge that funding gap, using settlement receivables and payment data. This is working capital for issuers, rather than evidence that every customer purchase is settled directly on a public blockchain.
A separate October 15 announcement brought Visa Direct’s USDC prefunding capability into commercial production through Inyo Global. Eligible businesses can use USDC to fund cross-border payouts, subject to availability and geography.
As CoinScreamer’s earlier coverage explained, funding a transfer with USDC does not require the recipient to receive stablecoins. The business funding step and the asset ultimately delivered to a customer remain separate.
Visa’s planned Mesh partnership addresses another use case: spending crypto balances from participating wallets at checkout. Its proposed merchant reach is not a measure of completed stablecoin transactions and should not be confused with the earnings call’s settlement run rate.
Disclaimer: CoinScreamer is an independent media brand owned and operated by NuvexMedia LLC, publishing news, research, and market insights on digital assets and related technologies. NuvexMedia LLC invests in and collaborates with companies across the digital asset, blockchain, and technology sectors. These relationships do not influence CoinScreamer’s editorial coverage, and the publication maintains full editorial independence to provide accurate, timely, and objective information. © 2025 NuvexMedia LLC. All rights reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or other professional advice.
