Visa: Business Programs Drive About 17% of Stablecoin Card Volume

The headline number is growth, but the more telling detail is the business-program share: stablecoin cards are finding product-market fit in commercial payment flows rather than consumer spending, which is where settlement speed and programmability actually solve a problem. That distinction matters for who captures the value — card networks and their business clients, not retail crypto users. Whether the business mix holds as overall volume scales is the open question; a consumer-led surge would tell a very different story about the use case.