Visa Launches Onchain Credit Infrastructure to Unlock Working Capital for Fintechs

Visa is launching a new onchain credit framework that integrates VisaNet settlement data with blockchain lending infrastructure. This initiative allows stablecoin-linked card programs and fintechs to access working capital more efficiently by using real-time payment data to inform decentralized lending protocols, bridging the gap between traditional payment flows and digital asset liquidity.

What was announced

Visa’s new approach to onchain credit is designed to help fintechs and stablecoin-linked card programs access working capital through onchain lending infrastructure. By combining VisaNet settlement data with blockchain-based credit systems, the company aims to provide lenders with a clearer understanding of a program’s operational performance. This integration makes it easier for lenders to evaluate financing opportunities and extend capital to businesses that may struggle with traditional underwriting processes.

The initiative addresses a significant market; according to the Visa Onchain Analytics Dashboard, more than $694 billion in stablecoin-denominated loans have been processed through onchain protocols since 2020. Visa currently supports more than 160 stablecoin-linked card programs, with payment volume in this segment growing nearly 200% year-over-year. Furthermore, Visa’s own stablecoin settlement volume has reached an annualized run rate of over $20 billion, a 15-fold increase compared to the previous year.

A key component of this rollout is Visa’s collaboration with Credit Coop. This partnership utilizes smart contracts to automate funding, collateral management, and repayment for settlement financing. Since 2023, this model has supported over $2.5 billion in cumulative financed settlement volume with zero defaults. The infrastructure has programmatically processed more than 3,000 borrow events and 9,000 repayment events onchain, providing a transparent, auditable record of all financing activity.

"Stablecoins are not only changing how money moves, they're creating opportunities to rethink the financial infrastructure that supports payments," said Rubail Birwadker, Global Head of Growth Products and Partnerships, Visa. "We're seeing how trusted payment data and onchain technologies can work together to unlock new forms of liquidity, helping businesses access capital in ways that are more transparent, programmable and aligned to the speed of modern commerce."

Rubail Birwadker, Global Head of Growth Products and Partnerships, Visa.

The companies involved

Visa is a global leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. The company has increasingly focused on bridging traditional finance with digital asset technologies, recently launching the Visa Stablecoin Platform to enable stablecoin settlement and help financial institutions access new digital capabilities. Visa’s involvement in the blockchain space is a significant shift for a company that has historically defined the standards for traditional card-based payments.

Credit Coop is a specialized provider of working capital and settlement financing for stablecoin-linked card programs. The firm utilizes onchain infrastructure to evaluate the live performance of settlement receivables, allowing it to enforce repayment directly from settlement flows. By integrating with VisaNet data, Credit Coop provides a mechanism for payment companies to use their settlement receivables as collateral in real time. This model aims to solve the liquidity challenges faced by emerging payment companies during periods of rapid growth, where traditional manual underwriting often fails to keep pace with the speed of digital commerce.

What FF News has reported before

FF News has extensively tracked Visa’s efforts to modernize its network through strategic partnerships and technological integration. Recently, the publication reported on how Handwave Expands Visa Agreement to Accelerate Palm-Based Biometric Payments Across Europe, highlighting the card giant's push into alternative authentication. This latest move into onchain credit represents a parallel effort to evolve the backend of the payment ecosystem, much like the biometric expansion evolved the point-of-sale experience. Visa’s focus on stablecoins follows a broader industry trend of integrating programmable money into established financial rails to improve settlement efficiency and transparency.

What this means

This announcement signals a shift in how creditworthiness is established in the digital economy. By using real-time settlement data as a verifiable record for onchain loans, Visa is effectively turning payment flows into liquid collateral. This puts traditional commercial lenders under pressure, as their slower, manual underwriting processes struggle to compete with the transparency and speed of smart-contract-based lending. The move also validates stablecoins as a legitimate B2B tool rather than just a speculative asset. However, it raises questions about how global regulators will approach the systemic risk of automated, onchain credit facilities as they become a primary liquidity source for the fintech sector.