Visa has recently made headlines by surpassing $200 million in cumulative stablecoin settlement volume, showcasing its commitment to expanding its crypto infrastructure. The payment giant reported strong Q2 2025 results, with $9.6 billion in net revenue, up 9% year-over-year. This growth is attributed to Visa’s continuous efforts in building stablecoin capabilities, including its first seven-day-a-week settlement system and the Visa Tokenized Asset Platform for bank partnerships.
CEO Ryan McInerney, while acknowledging the milestone, emphasized that this achievement represents only a fraction of Visa’s overall settlement volume. He highlighted the importance of clearer regulations for the technology to reach its full potential and gain broader adoption in global commerce.
Visa has been actively competing for stablecoin dominance, with its first VTAP pilot partner, BBVA, planning to launch a stablecoin on the Ethereum blockchain later this year. The company has also invested in stablecoin infrastructure provider BVNK through Visa Ventures and expanded partnerships across Africa with Yellow Card Financial.
Despite the rapid growth in stablecoin volume, which reached $27.6 trillion in Q1 2025, surpassing Visa and Mastercard’s combined transaction volume, major corporations like Amazon and Walmart are exploring stablecoin payment integration for high-volume transactions. The recent passage of the GENIUS Act in the United States has established federal frameworks for USD-pegged stablecoins, providing regulatory clarity that industry leaders believe will accelerate institutional adoption.
Global regulatory frameworks are driving stablecoin mainstream adoption, with the GENIUS Act imposing strict requirements on stablecoin issuers and banks. Ripple and Circle have applied for U.S. banking licenses in response to these regulations, while Hong Kong and Nigeria have introduced their own stablecoin licensing regimes to ensure compliance with new guidelines on supervision and anti-money laundering.
In Europe, concerns have been raised about the limited adoption of euro-backed stablecoins, posing a threat to European monetary sovereignty as dollar-dominated tokens gain mainstream acceptance through major payment networks. Payment giants like Interactive Brokers and China Industrial Bank are also exploring their own stablecoin initiatives to cater to the growing institutional market.
Visa’s partnerships with Yellow Card Financial and Circle reflect its efforts to bring stablecoin payments to Africa and reduce cross-border payment costs. With stablecoin supply reaching $225 billion and monthly transfers exceeding $4.1 trillion, driven by both retail and institutional adoption, Visa remains focused on interoperability and programmability through partnerships with financial institutions and technology providers.
Overall, Visa’s commitment to expanding its crypto infrastructure and navigating regulatory challenges underscores its position as a key player in the evolving stablecoin landscape, with a strategic focus on enhancing fraud detection and real-time payment solutions for scalable institutional adoption.