Visa's Stablecoin Settlement Volume Surges to $25 Billion, Up 10x Year-Over-Year

Visa has reported that its annualized stablecoin settlement run rate has surpassed $25 billion, reflecting a significant growth of 10 times compared to the previous year. CEO Ryan McInerney disclosed this information during a recent earnings call, highlighting the company's expansion into five different stablecoins, including USD Coin (USDC) and PayPal USD (PYUSD).

The annualized figure is based on recent transaction volumes projected over the next 12 months, and it indicates a robust demand for stablecoin transactions facilitated by Visa. The company maintains a neutral stance towards the stablecoins it supports, asserting that it is both stablecoin and blockchain agnostic.

Visa's stablecoin settlement services now operate across ten blockchains, more than doubling the number from the previous year. The supported tokens include USDC, Global Dollar (USDG), Euro Coin (EURC), PYUSD, and SBC, a dollar stablecoin issued by Brale.

In addition to its settlement services, Visa is also part of the Open USD consortium and has introduced its Open USD (OUSD) token, which is integrated into its payment products. As of mid-October, OUSD had over $800 million in circulation.

Visa's strategy includes a growing number of stablecoin-linked card programs, which have increased by over 70% in the past year. The company is positioning itself as a key player in the stablecoin market, with plans to expand its offerings further.