Visa’s Stablecoin Settlement Pace Tops $25 Billion as Card Programs Pass 225

Visa's annualized stablecoin settlement pace passed $25 billion, 10 times its year-earlier level, while its stablecoin-linked card programs topped 225, CEO Ryan McInerney said on the company's earnings call Tuesday, Oct. 27. The figures describe growth in two separate parts of Visa's stablecoin business: settlement on its network and card programs used by customers.

“In stablecoin settlement, our run rate has surpassed $25 billion in annualized volume, up 10x year-over-year,” McInerney said. The $25 billion figure is an annualized pace, not a cumulative total for fiscal 2026.

Visa's settlement support spans 10 blockchains, more than double last year's count. It operates in all five of the company's regions. The blockchain count describes the systems Visa supports for settlement, while the $25 billion figure covers annualized volume across its network.

Card programs increased more than 70% year over year to more than 225. Volume across the programs grew more than 150% across five million cards in more than 50 countries. McInerney said participating issuers include crypto exchanges, neobanks, wallets and remitters.

The card figure and settlement pace measure different activity. Linked Visa cards let customers spend stablecoin balances. Network participants can also settle with Visa in stablecoins every day of the week. One measure tracks programs and their card volume; the other reports an annualized settlement pace on Visa's network.

The latest settlement figure follows Visa's September disclosure of a run rate above $20 billion. On Oct. 1, the company had reported more than 160 stablecoin-linked card programs. The new figures update both measures: settlement is above $25 billion annualized, and the card-program count has surpassed 225.

Both figures describe Visa's own network, not total stablecoin activity across the industry. They show a larger card-program base alongside a higher reported settlement pace, while measuring distinct uses of stablecoins within Visa's operations.