Key Insights:
- Visa’s 160+ card programs put stablecoin news in focus as volume jumped nearly 200% YoY.
- Credit Coop financing cut borrowing costs by up to 30% for some Visa programs.
- Rain has used over $2B in settlement financing across 2,000+ borrowing events.
Visa is making headlines in stablecoin news, reporting growth across its stablecoin-linked card network. More than 160 programs were live globally during the company’s fiscal second quarter.
Payment volume across those programs rose by nearly 200% from a year earlier. That growth is pushing Visa to address how fast-growing issuers fund daily settlement.
As more programs launch, issuers must maintain enough capital to meet Visa settlement obligations. Smaller operators may need several million dollars, yet traditional facilities can carry high administrative costs.
Visa is therefore pairing settlement data with onchain lending infrastructure. The aim is to give lenders clearer information while issuers seek working capital.
Visa Stablecoin News Shifts Toward Onchain Credit
Visa is testing that approach through a pilot with Credit Coop. The company provides stablecoin-denominated revolving facilities secured by settlement receivables. Issuers draw funds to meet daily Visa obligations, then repay them as cardholder proceeds arrive, highlighting another development covered by stablecoin news.
This structure links rising crypto payment activity to the financing needed to keep settlement moving. Credit Coop uses its Spigot smart contract to direct those repayments. Incoming receivables first cover principal and interest before remaining funds reach the borrower.
Visa also sends authorized programs’ daily settlement files through a secure connection. Lenders can then compare those records with onchain transaction histories when assessing borrowers.
Visa said settlement data reduced borrowing costs by up to 30% for some programs. However, it did not disclose individual rates or identify every borrower receiving lower pricing. The financing model, therefore, links Visa’s operating data directly with the daily capital needs of participating card programs.
Rain Shows How the Financing Model Works
Rain provides the clearest operating example in the latest Visa news announcement. The stablecoin card infrastructure company has used Credit Coop financing since August 2023.
Credit Coop disburses funds based on Visa settlement files, enabling Rain to meet its daily obligations. Cardholder payments later move through smart contracts that service interest and replenish the facility.
Visa said every settlement obligation covered by Rain’s facility has been funded on time. Credit Coop reported more than $2.5 billion in financing across over 3,000 borrowing events. Rain accounted for about $2 billion of that total. Its arrangement included more than 2,000 borrowing events and 7,000 repayments.
Those transactions generated at least $1.58 million in interest, according to Visa. As per the stablecoin news, Rain also settles Visa obligations in USDC seven days a week. The structure shows how recurring settlement requirements can connect with stablecoin-based credit.
Karta later followed a similar financing route under Rain’s issuing infrastructure. The company announced $140 million in financing in June 2026. That included a $15 million Series A and a $125 million institutional credit facility. Moto and Xplace also use Credit Coop financing, although Visa did not disclose their terms.
Stablecoin News Turns Toward Just-in-Time Funding
Stablecoin news is now moving from revolving facilities toward more precise daily funding. Visa and Credit Coop are developing a just-in-time model tied directly to settlement files.
Each file would cause a stablecoin payment matching the exact net amount owed. Funds would then move directly to the relevant Visa settlement address.
Visa said the model could reduce borrowing periods from days to hours. It could also limit full facility draws before exact daily obligations are known. However, Visa has not announced a launch date across its 160 programs. The company also has not identified which stablecoins or blockchains future facilities will support.
