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[Visa Releases Report Exploring Stablecoin Lending Potential in On-Chain Finance] Visa has released a report titled 'Stablecoins: Beyond Payments—Opportunities in On-Chain Lending,' proposing to redefine decentralized finance (DeFi) as 'on-chain finance' to better align with institutional needs and drive its development. The report highlights that since 2020, the 'on-chain finance' market has issued over $670 billion in stablecoin loans, with lending volumes expected to reach new highs by mid-2025. Stablecoins have become the cornerstone of automated credit markets. Visa envisions institutions acting as liquidity providers for programmable lending protocols, while focusing on offering data, compliance, and infrastructure services itself. Visa emphasizes that it will not issue tokens or directly fund loans but aims to attract institutional capital into the on-chain finance space through technology support without lending risk. The report also notes that Visa's strategy mirrors the traditional financial system, aiming to mainstream on-chain finance through its brand and channel advantages.

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