Visa's Stablecoin Volume Grew 10x in a Year: Which Stablecoins Benefit?

Visa CEO Ryan McInerney told analysts on Tuesday that the company’s annualized stablecoin settlement run rate passed $25 billion, roughly ten times its level a year earlier; a run rate extrapolates recent volume across 12 months. Visa said it settles in five stablecoins—USDC, USDG, EURC, PYUSD and Brale-issued SBC—across 10 blockchains, more than double the count a year earlier, and McInerney called Visa stablecoin- and blockchain-agnostic. Visa also belongs to the Open USD consortium, a rival to USDC, whose OUSD token had more than $800 million in circulation as of Oct. 15 and is linked to Visa’s Flex Credential product. Visa counts over 225 stablecoin-linked card programs, up more than 70% in a year.