Can Visa’s $670B bet on programmable money rewrite global credit?

Visa has released a roadmap suggesting that the rapidly growing stablecoin lending market, currently valued at $670 billion, is set to become the basis for future global credit, targeting its network of over 15,000 financial institutions. With new US regulatory frameworks like the GENIUS Act emerging, Visa sees an opportunity to merge traditional banking with 24/7, instantly settling blockchain lending protocols. Data from August 2025 shows significant institutional adoption, with average loan sizes reaching $121,000 and borrowing rates near traditional market levels, despite offering instant settlement. Visa’s vision rests on three pillars: tokenizing traditional assets (like Treasuries and real estate) to serve as collateral, enabling crypto collateral for liquidity without triggering capital gains, and developing on-chain identity systems for better credit scoring beyond overcollateralization. The shift requires banks to manage new technology risks, such as smart contract vulnerabilities, but successful protocols already demonstrate high volume and competitive yields. Visa asserts that the infrastructure is ready, urging banks to adopt these programmable lending systems to lead the future of credit rather than be disrupted by them.

(Source：CryptoSlate)