visa stablecoin 25b Run Rate Hits 10x on Earnings Call
The visa stablecoin 25b run-rate claim came from Visa's Q4 FY2026 call, with McInerney saying annualized settlement topped $25B and was up about 10x year over year.
Early story. Some claims here are not officially confirmed yet. We update this post as it confirms.
- Run rate >$25B annualized, ~10x YoY (McInerney on the Q4 FY2026 call).
- Settlement coins named: USDC, USDG, EURC, PYUSD, SBC; "stablecoin agnostic" and "blockchain agnostic."
- BeInCrypto: >225 stablecoin-linked card programs; ~5M cards with spending +150%; Open USD >$800M supply by Oct 15.
in this block
The visa stablecoin 25b headline landed on Visa's fiscal fourth-quarter 2026 earnings call, when CEO Ryan McInerney said stablecoin settlement run rate had surpassed $25 billion annualized and was up about 10x year over year. Motley Fool's transcript and BeInCrypto's October 29 write-up both carried the figure, along with support for five settlement coins across ten blockchains and all five Visa regions.
What actually happened
Visa used the earnings call to put onchain settlement in the same breath as its broader payments stack. McInerney said the stablecoin settlement run rate surpassed $25 billion in annualized volume, up 10x year over year, and that Visa can now support ten blockchains, more than double a year ago, while operating in all five regions. He listed five settlement assets: USDC, Global Dollar (USDG), Circle's euro-backed EURC, PayPal's PYUSD, and SBC from Brale.
On agnosticism he was blunt. "We are stablecoin agnostic. We are blockchain agnostic," he said, according to the Motley Fool transcript and BeInCrypto. That line matters because Visa also backs Open USD (OUSD), which BeInCrypto said had more than $800 million in circulation as of October 15 after going live on September 30. Being both a consortium participant and a multi-coin settler is the posture Visa wants analysts to hear.
Card rails are part of the same story. BeInCrypto, citing the call, said Visa counts more than 225 stablecoin-linked card programs, up over 70% in a year, with spending on roughly five million of those cards up more than 150% across over 50 countries. The Visa Stablecoin Platform is live in the United States, Mexico, Puerto Rico, Colombia, Switzerland, and the United Kingdom, with a pipeline of more than 300 partners.
Run rate is not a fiscal-year receipt
Visa did not break out which of the five coins carries the most settlement flow, and we will not invent that ranking. Annualized run rate is also not the same thing as dollars settled inside fiscal 2026. Treat the visa stablecoin 25b print as a pace metric management chose to highlight on the call, then read it next to the card-program and platform geography details for operational color.
The call also mixed stablecoins with tokenized deposits and Visa Direct stablecoin prefunding moving from pilot to commercial production, with Inyo Global named as a live partner in the transcript. Those adjacent products show Visa wants one network story across fiat, stablecoins, and tokenized deposits rather than a side experiment.
For readers watching dollar rails and issuer products, pair this with Open USD stablecoin and consumer-wallet distribution notes like Samsung Wallet USDC. Settlement volume and card spend are related but not identical; one is treasury plumbing, the other is consumer plastic.
Who benefits is still unanswered
BeInCrypto's headline asked which stablecoins benefit. Visa's answer was intentional non-answer: five named coins, ten chains, agnostic posture. USDC is the familiar brand, USDG and PYUSD bring exchange and fintech distribution, EURC covers euro settlement, and SBC shows Visa will clear newer issuers too. Without a flow table, any "winner" chart on social media is speculation.
Consulting demand is another soft signal. McInerney said stablecoin advisory was the fastest-growing Visa Consulting and Analytics practice in fiscal 2026, with nearly half of those projects in the fourth quarter alone and more than 60 unique engagements. That is fee-adjacent interest, not settlement share.
A 10x run-rate chart is a management slide. Your job is to ask what still is not on the slide.
What to do as a reader
Read the Motley Fool transcript or BeInCrypto summary before resharing the visa stablecoin 25b figure, and keep "annualized run rate" in the sentence. Do not invent a coin-level market-share table Visa did not publish.
If you follow onchain dollars, watch Open USD supply updates and Visa Stablecoin Platform country expansion separately from settlement pace. Nothing here is investment advice, and a corporate run-rate claim is not a trading signal by itself.
Sources: Motley Fool Visa Q4 2026 transcript, BeInCrypto, Benzinga transcript page.
Not financial advice. DYOR, ser.
