Visa’s Stablecoin Settlement Developments

Visa has processed over $200 million in stablecoin settlements, indicating potential in the technology while acknowledging its current infancy awaiting clearer regulatory frameworks.

CEO Ryan McInerney stated during Visa’s fiscal Q2 2025 earnings call:
> “It’s still early, but we do see real potential. $200 million is a great milestone, but it’s still a relatively small portion of our overall settlement volume.”

For the quarter, Visa reported $10.17 billion in revenue, a 14% increase year-over-year, with adjusted net income reaching $5.83 billion, up from $4.91 billion last year.

Visa’s shares closed at $351.29 before declining to $343.06 in after-hours trading.

Visa is currently testing stablecoins through Visa Direct, targeting real-time cross-border transfers, and expanding functionality with the Visa Tokenized Asset Platform to enable banks to leverage stablecoins.

McInerney expressed optimism regarding clearer regulations, saying,
> “We are optimistic about the U.S. government passing clearer regulations, not just in the U.S., but hopefully in other countries as well.”

Stablecoins, typically pegged to the U.S. dollar, facilitate payments and remittances while reducing volatility. The market capitalization exceeds $272.25 billion, according to CoinGecko.

Data from Zakhil Suresh CMT, founder of BitSave, highlights that only 10-20% of stablecoin transactions currently relate to payment activity, with the remainder linked to trading and liquidity. However, this is expected to rise above 50% as regulations become clearer and businesses adopt stablecoins for payments and payroll.

Visa has made strategic moves such as investing in BVNK and partnering with Bridge for stablecoin services in Latin America. McInerney noted,
> “There’s a lot of activity and discussion about stablecoins right now.”

Experts observe that Visa’s $5-7 trillion daily volume significantly exceeds stablecoins’ $20-30 billion transactions, likening the stablecoin industry to the nascent e-commerce sector in the late 90s.

As digital assets face increased regulations, Visa may see substantial growth in adoption over the next decade. The recent signing of the GENIUS Act by President Trump enhances clarity for U.S. businesses, although global processors like Visa must monitor regulatory changes worldwide.