Visa announced on September 8, 2026, that the annualized volume of stablecoin settlements reached $20 billion, growing more than 15 times compared to the same period last year. The volume of payments on stablecoin-linked cards grew by nearly 200% year over year. In the second fiscal quarter of 2026, more than 160 such card programs were operating worldwide.
Visa and Credit Coop expanded their partnership by launching revolving credit lines in stablecoins to finance the daily settlement obligations of card operators. According to Credit Coop itself, since 2023 the platform has cumulatively financed $2.5 billion with zero defaults, processing more than 3,000 borrowings and 9,000 repayments. Program participant Rain has been using this credit line since August 2023, drawing approximately $2 billion across more than 2,000 borrowings and 7,000 repayments. By leveraging access to settlement data, borrowing costs for participating programs have been reduced by up to 30%. The Spigot smart contract automatically directs a portion of incoming funds toward debt and interest repayment, with the remainder transferred to the borrower's operating account.
Visa continues to develop its stablecoin strategy, working on a just-in-time funding model that will reduce borrowing timelines from days to hours. In March 2026, card programs were launched in 18 countries in partnership with Bridge, a company owned by Stripe, with plans to expand to more than 100 countries by year-end. Customers can use their funds at more than 175 million merchant locations. The American premium card Karta, operating under the Rain bank identification number, raised $140 million in June 2026, including $15 million in a Series A round from Galaxy Ventures and a $125 million credit line from Community Investment Management. It is important to note that all figures cited are based on data provided by Visa and Credit Coop and have not been verified by an independent audit. Furthermore, settlement volume differs from payment volume: the former covers transfers between Visa and financial institutions, while the latter refers to purchases made by cardholders.
***
This material is prepared exclusively for informational purposes and does not constitute financial advice or a recommendation.