Visa says business cards account for 17 percent of its stablecoin card volume

Visa said on October 1 that about 17 percent of its stablecoin-linked card volume in fiscal 2026 to date came from business and commercial card programs, according to a company release distributed through Business Wire. The figure is based on VisaNet data, with business and commercial activity determined by Visa’s internal card program classifications.

Visa supports more than 160 stablecoin-linked card programs across consumer, business and commercial activity, and payments volume across those programs has grown nearly 200 percent year over year, the company said. It described businesses as increasingly exploring stablecoins for settlement, treasury management, payouts and cross-border commerce. The figures Visa released are shares and growth rates; the release cites outside research from Allium for dollar estimates of the wider market.

Allium estimated annual stablecoin payments volume at between $401 billion and $527 billion and found payments to be the fastest-growing stablecoin use case, according to the release. The largest business payment categories in Allium’s analysis were service fees at $56 billion, payroll at $43 billion and supplier payments at $28 billion, with business-to-business payments showing the highest cross-border share at 43 percent.

A Federal Reserve Bank of Cleveland commentary published on September 28 reported on a survey of 148 firms in the bank’s district, which covers Ohio, western Pennsylvania, eastern Kentucky and the northern panhandle of West Virginia. Only eight of the firms expressed any plans to use stablecoins, the researchers wrote. Respondents cited satisfaction with existing payment methods, unfamiliarity with the technology and a lack of demand from customers and suppliers. The survey was conducted in September 2025.

The two sets of figures measure different things: Visa’s number is a share of stablecoin-linked card volume, while the Cleveland Fed asked firms about their plans. Visa said it continues to expand its stablecoin capabilities across settlement, Visa Direct pre-funding and payouts. The network launched its Visa Stablecoin Platform in July, and Visa Ventures joined the funding round for Velocity in September.