News, data and analysis on tokenized assets, market design and digital economic systems.
Its stablecoin settlement reached a $7bn annualised run rate in April 2026, when Arc, Base, Canton, Polygon and Tempo took the chains it supports to nine; in July it opened a platform for institutions to mint and burn stablecoins inside the network.
Card network operating in more than 200 countries and territories, whose corporate line runs back to the BankAmericard programme Bank of America launched in Fresno on 18 September 1958, reorganised as National BankAmericard Inc. in 1970, unified under the Visa name in 1976 and listed on the New York Stock Exchange in March 2008. It first settled card obligations in a stablecoin in 2023 and opened USDC settlement to US issuers and acquirers on 16 December 2025, with Cross River Bank and Lead Bank settling over Solana; on 29 April 2026 it added Arc, Base, Canton, Polygon and Tempo to take the supported chains to nine, and reported stablecoin settlement at a $7bn annualised run rate, 50% above the previous quarter, alongside more than 130 stablecoin-linked card programmes in over 50 countries. On 16 July 2026 it opened the Visa Stablecoin Platform in beta, through which financial institutions and fintechs can mint, burn and hold stablecoins inside a network-managed environment, starting with Open USD issued by Open Standard.
Developments in which Visa Inc. is a named party, newest first.
Eleven institutions will secure the stablecoin issuer's own layer-one network before its 16 September mainnet, and the DTCC will make Arc a supported chain for tokenizing the assets it custodies from the second half of 2027.
BlackRock, the DTCC, Galaxy, Global Payments, ICE, Mastercard, MoneyGram, SBI Group, Standard Chartered, Sumitomo Corporation and Visa will run validators on Arc, Circle's layer-one network, ahead of a public mainnet set for 16 September 2026. BlackRock is expected to deploy BUIDL on it, and the DTCC to make it a supported blockchain for its tokenization service in the second half of 2027.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
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