Visa’s annualized stablecoin settlement volume has exceeded USD 25 billion, a tenfold rise from a year earlier, as the payments company expands across 10 blockchains and five regions. Chief Executive Ryan McInerney reported the figures on the October 27 fiscal fourth-quarter earnings call. Visa now supports five settlement stablecoins and more than 225 linked card programs covering about 5 million cards in over 50 countries.
The USD 25 billion figure measures Visa's current settlement pace projected across a year, rather than transactions completed during fiscal 2026. Visa also reported approximately $46 billion in annual revenue, as the blockchain business broadened alongside its existing payment operations.
McInerney said the company has more than doubled the number of supported blockchains over the past year. All five geographic regions now have stablecoin settlement operations, allowing institutions to use arrangements that fit their payment and treasury needs.
Supported assets include USDC, USDG, EURC, PayPal USD (PYUSD) and SBC, a dollar-backed token issued by Brale. Visa intends to accommodate different networks and tokens rather than require customers to use one settlement option.
In September, Visa reported an annualized stablecoin settlement rate above USD 20 billion. At an earlier point in its expansion, the measure stood near USD 7 billion. The latest USD 25 billion pace marks another step in that progression.
A September transaction showed how banks could use the service. Lloyds Corporate Markets Jersey settled USD 750,000 in USDC with Visa through Archax's exchange infrastructure. The transfer took place within an hour, demonstrating how the parties could settle funds outside normal bank hours, including weekends.
Stablecoin-linked card programs passed 225, up more than 70% from a year earlier. Transaction volume through these programs rose more than 150% over the same period, according to McInerney.
The company had reported 160 programs in September, when associated payment volume was rising nearly 200% annually. Its latest program count covers a network of crypto exchanges, neobanks, digital wallets and remittance businesses.
Eligible cardholders can use stablecoin-related balances for purchases at merchants connected to Visa. Depending on the issuer's arrangements, a provider converts those balances into the currency needed to complete the card purchase.
Commercial uses now contribute to the volume. Visa reported on October 1 that business and commercial cards accounted for about 17% of stablecoin-linked card volume so far in fiscal 2026. It cited supplier payments, company spending and treasury services among areas drawing client interest.
Read More: Lloyds, Visa Settle USD 750,000 in Stablecoins Across Borders in an Hour
How far has Visa moved its stablecoin services into live operations? Visa Direct's stablecoin prefunding service has progressed from pilot testing to commercial production, with U.S.-based Inyo Global as its first live partner.
Unlike card programs that connect customer balances to merchant purchases, Visa Direct prefunding serves businesses with international payment obligations. Its first commercial deployment uses USDC rather than other supported settlement tokens.
The service lets eligible businesses use USDC to meet international payment obligations beyond conventional banking hours. Visa plans to add more assets and has named Open USD (OUSD) among the tokens intended for future support.
OUSD launched on September 30 and passed USD 800 million in circulating supply by October 15, according to the earnings presentation. Visa plans to integrate the token into settlement and Visa Direct services through its role in the Open Standard consortium.
Separately, the Visa Stablecoin Platform is available in the United States, Mexico, Puerto Rico, Colombia, Switzerland and the United Kingdom. McInerney described a pipeline of more than 300 potential partners.
Visa also participates as a validator on Tempo and Canton and received an invitation to join Circle's Arc founding validator group. During fiscal 2026, it conducted more than 60 stablecoin consulting engagements, nearly half in the fourth quarter.
Visa's annualized stablecoin settlement pace has passed USD 25 billion as its network spans 10 blockchains and five regions. More than 225 card programs now serve about 5 million cards. Meanwhile, Visa Direct has entered commercial production with Inyo Global, and Visa plans broader stablecoin support.