Stablecoins Power $670 Billion in On-Chain Loans: Visa

Stablecoins are expanding beyond payments and trading, according to a new report from Visa, which found that more than $670 billion in loans have been issued through on-chain lending platforms over the past five years.

Visa said monthly on-chain lending volumes reached $51.7 billion in August 2025, with over 81,000 active borrowers and an average loan size of $76,000. The average borrowing rate from September 2024 to August 2025 was about 6.7%, similar to traditional credit markets.

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