Visa stablecoin settlement run rate tops $25B, up 10x in a year

Visa said its stablecoin settlement run rate has surpassed $25 billion in annualized volume, up 10x from a year earlier. CEO Ryan McInerney made the remark on October 27 during the company's fiscal fourth-quarter 2026 earnings call.

Details

According to the call transcript, McInerney said: "In stablecoin settlement, our run rate has surpassed $25 billion in annualized volume, up 10x year-over-year." It is an annualized run rate, not a quarterly total.

Visa now supports settlement across 10 blockchains (twice as many as a year ago) in all five of its regions, and handles five stablecoins: USDC, USDG, EURC, PYUSD and SBC. The company said stablecoin prefunding and cross-border money movement through Visa Direct has moved from pilot to commercial production, with Inyo Global as the first live partner.

The card side is growing too. Visa counts more than 225 stablecoin-linked card programs, up more than 70% year over year, with volume up over 150% across about 5 million cards in more than 50 countries. Management said the pipeline holds more than 300 potential partners. Wu Blockchain also reported the figures; the quarter's headline results are in Visa's 8-K filed October 27, which does not cover stablecoins.

What it means for the market

Stablecoin settlement is one of the clearest examples of a payment network wiring blockchain money into everyday infrastructure. For stablecoins such as USDC, it is a demand channel beyond trading. The scale is still small next to Visa's total volume, and annualized figures lean heavily on recent months.

We previously covered the USDC payouts through Visa Direct. For live market prices see the daily brief.