Visa Chief Product and Strategy Officer Jack Forestell said stablecoins are transitioning from experimental technology into real financial infrastructure capable of supporting large-scale settlement and global payments activity. The remarks come as Visa rapidly expands its stablecoin operations across settlement, card issuance, and blockchain-based payment infrastructure.
Speaking at the Morgan Stanley Technology, Media & Telecom Conference, Forestell described stablecoins and blockchain networks as foundational infrastructure layers rather than standalone consumer products. He said the technology addresses long-standing inefficiencies in the global financial system, particularly in cross-border settlement and backend money movement.
“We have collectively done an amazing job reinventing the front end of money,” Forestell said during the conference. “We have not reinvented the back end of money. It’s still very brittle and very difficult to use.”
The executive said Visa is increasingly enabling clients to settle obligations using stablecoins on a 24/7 basis, allowing issuers, merchants, and payment partners to move funds outside traditional banking hours. According to Forestell, businesses using stablecoin settlement can transfer value instantly at any time rather than relying on legacy banking rails and correspondent banking systems.
Visa’s stablecoin settlement business has expanded rapidly over the past year. The company disclosed that its annualized stablecoin settlement run rate reached approximately $7 billion, rising more than 50% quarter-over-quarter as adoption accelerates across payment partners and international markets.
Visa Expands Stablecoin Infrastructure Globally
Visa has significantly broadened its blockchain infrastructure strategy in recent months, adding support for additional blockchain networks and expanding stablecoin-linked card programs worldwide. Last week, the company announced the integration of five new blockchain networks into its settlement infrastructure, including Polygon, as it seeks to scale stablecoin payments globally.
The payment giant also expanded its partnership with stablecoin infrastructure provider BVNK and Stripe-owned Bridge to support stablecoin-linked card issuance and settlement in more than 100 countries by the end of 2026. According to Forestell, Visa currently supports more than 130 stablecoin-linked card programs across 40 countries.
Industry analysts said Visa’s expanding stablecoin activity is particularly significant because the company operates one of the world’s largest payment networks, processing roughly 300 billion transactions annually. Market participants increasingly view Visa’s adoption of blockchain settlement as evidence that stablecoins are moving into mainstream financial infrastructure rather than remaining confined to crypto-native trading activity.
Forestell said stablecoin adoption is being driven by both businesses and consumers, especially in emerging markets where currency volatility and limited banking access create demand for dollar-linked digital assets. He noted that stablecoin infrastructure allows payments and settlement activity to continue continuously without relying on traditional banking operating hours.
Institutional Adoption Accelerates Across Financial Sector
Visa’s growing involvement reflects broader institutional momentum around stablecoins as banks, exchanges, and payment companies increasingly integrate blockchain settlement rails into existing financial systems. Analysts said stablecoins are becoming one of the fastest-growing segments within digital finance because they combine blockchain-based settlement efficiency with reduced volatility tied to fiat-backed reserves.
The shift has accelerated alongside improving regulatory clarity in jurisdictions including Singapore, Hong Kong, the European Union, and the United States. Forestell said Visa gradually expanded stablecoin capabilities over several years as regulatory frameworks evolved and institutional demand increased.
Research published earlier this year also suggested stablecoins increasingly demonstrate advantages in continuous settlement, cross-border transfers, and programmable financial transactions compared with legacy payment rails. However, analysts noted challenges remain around consumer protections, legal recourse, and fragmented regulatory standards globally.
Even so, Visa’s continued investment in stablecoin infrastructure signals that major payment networks increasingly view blockchain settlement systems as complementary to traditional finance rather than a competing alternative. Analysts said the transition could significantly reshape how global payments, treasury operations, and financial settlement systems operate over the next decade.
