Visa says payment volume across its stablecoin-linked card programs has grown nearly 200% compared with a year earlier, as the company expands its stablecoin services around the world.
More than 160 stablecoin-linked Visa card programs are now operating across consumer, business and commercial markets.
Visa said about 17% of its stablecoin-linked card volume during fiscal 2026 so far came from business and commercial card programs. The company did not disclose the total dollar value behind the nearly 200% growth.
Visa also said its stablecoin settlement activity recently passed a $20 billion annualized run rate. This means recent activity, if maintained for a full year, would equal more than $20 billion. It does not mean Visa has already settled $20 billion during fiscal 2026.
Stablecoin-linked cards allow customers to spend stablecoins through Visa’s existing payment network. Depending on the program, stablecoins can either fund the card balance or support settlement while merchants continue receiving payments through regular card systems.
Visa has also been expanding stablecoin services for businesses. The company says businesses are increasingly looking at stablecoins for supplier payments, treasury management and international transactions.
Through Visa Direct, eligible businesses and financial institutions can use stablecoins to help fund cross-border payouts. In some cases, recipients can also choose to receive payments in dollar-backed stablecoins such as USDC through supported wallets.
Visa and Stripe-owned Bridge also announced earlier this year that Bridge-powered stablecoin cards were already operating in 18 countries, with plans to expand to more than 100 countries by the end of 2026.
Outside Visa’s network, stablecoin payments are also growing quickly.
Research from Allium estimated that stablecoin payment activity reached between $401 billion and $527 billion during the first eight months of 2026. Depending on the measurement method, this represented growth of roughly 42% to 63% compared with the same period a year earlier.
Allium separates actual economic payments from the much larger amount of stablecoin transfers connected to trading, DeFi, exchanges, bots and internal blockchain movements.
Business-to-business payments made up the largest payment category, with estimated volume of $137 billion to $153 billion. Service payments reached about $56 billion, payroll payments were around $43 billion and supplier payments totaled about $28 billion.
Consumer retail purchases were much smaller at approximately $19 billion.
Cross-border transactions were particularly important for businesses. Allium estimated that 43% of geographically identified B2B payment volume crossed international borders.
Visa is also building more infrastructure around stablecoins. Its Visa Stablecoin Platform is designed to help banks, fintech companies and crypto businesses hold, transfer, mint and redeem stablecoins without having to build an entire blockchain system themselves.
The company has also been working on stablecoin settlement using USDC and has explored lending systems that allow stablecoin-linked card programs to borrow stablecoins for daily settlement needs.
Overall, Visa’s latest figures show that stablecoins are moving beyond crypto trading and into everyday payments, business transactions, cross-border transfers and financial infrastructure. The rapid growth in card programs and settlement activity suggests Visa is preparing for stablecoins to become a larger part of the global payments system.
