Visa (V) said Tuesday that it is expanding into lending for companies with stablecoin-linked card programs to access working capital using its onchain lending infrastructure and data.
The company said its system combines its VisaNet settlement data with blockchain-based lending infrastructure to provide working capital to payment companies.
Visa said more than 160 stablecoin-linked card programs currently operate on its network, with payment volume up close to 200% from a year earlier.
Visa's stablecoin settlement volume has also surpassed a $20 billion annualized run rate, up more than 15-fold from a year earlier, according to Visa.
The announcement is part of Visa's stablecoin strategy, which includes the recent launch of the Visa Stablecoin Platform, the company said.