Visa stablecoin settlement hits $25 billion run rate, up 10x year-over-year

Visa has reached a $25 billion annualized run rate for stablecoin settlements, marking a tenfold increase compared to the previous year. CEO Ryan McInerney delivered this figure during the company’s fiscal fourth-quarter earnings call on October 27, highlighting significant momentum for stablecoin use within its network. Visa, the global payments giant, now conducts part of its card settlement operations across 10 different blockchains. The selection of which stablecoins are adopted for these settlements could prove influential for issuer market share, especially as Tether’s USDT—currently the largest stablecoin—remains excluded from Visa’s supported tokens. Visa has also invested in the Open USD (OUSD) stablecoin, further intensifying the competitive environment among stablecoin issuers participating in its settlement system.

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