Visa Reports $11.63B Q3 Revenue and Expands Stablecoin Payments Strategy

Financial results and payment growth

For the quarter, Visa reported net revenue of $11.63 billion, up 14% from a year earlier. Payments volume rose 10%, while processed transactions also increased 10%. Cross-border volume, a closely watched measure for global payments firms, climbed 13%.

Adjusted earnings were $6.3 billion, or $3.32 per share. During the July 28 earnings call, the company used those results as the backdrop for a broader discussion of how stablecoin-based payments could fit into its long-term business.

Stablecoins as part of a wider network strategy

Visa said it is investing across multiple parts of the stablecoin market rather than focusing on a single token or blockchain. The areas it named included blockchains, issuance, wallets, infrastructure, orchestration and payment applications.

The company described its role as connecting banks and payment companies to those systems, instead of acting only as a traditional card network. That position was reflected in its comments on market structure: Visa said it does not intend to pick one stablecoin, chain or infrastructure provider as the winner, but instead wants to support whichever regulated systems ultimately gain adoption.

Its existing settlement efforts are already being expanded. Visa said selected issuers and acquirers can settle obligations using supported stablecoins. By March, that settlement pilot had reached a $7 billion annualized run rate after growing 50% in a single quarter. The program now supports nine blockchains: Ethereum, Solana, Base, Polygon, Avalanche, Stellar, Canton, Arc and Tempo.

OpenUSD first on beta platform

A central part of the strategy is the Visa Stablecoin Platform, a system the company said offers wallet infrastructure and tools for minting, holding, transferring and redeeming stablecoins in a Visa-managed environment. The platform is currently in beta testing with selected clients, and Visa did not give a date for broader availability.

Visa said OpenUSD, or OUSD, will be the first stablecoin supported through the new platform. Once the relevant services are available, clients are expected to be able to connect bank accounts, create managed wallets and use OpenUSD minting and redemption functions.

Even so, the company framed OpenUSD as an initial step rather than an exclusive path. Visa said its longer-term approach would remain multi-coin and multi-chain.

Pismo integration and AI commerce plans

Visa also said it plans to link the stablecoin platform with Pismo, the cloud-based banking infrastructure company it acquired in 2024. The intended goal is to help financial institutions create tokenized deposits while keeping customer funds on bank balance sheets.

Beyond settlement infrastructure, the company said it sees stablecoins as a possible replacement for parts of the financial system’s back-end rails. On the customer-facing side, Visa pointed to AI agents as a technology that could reshape how purchases are initiated, with software systems searching for, selecting and buying goods or services on behalf of users.

To support that model, Visa said it has introduced agent identity, token assurance and transaction-control tools designed to let software agents make payments within preset limits. It also said it has partnered with OpenAI on agentic-commerce systems.

The update suggests Visa is positioning stablecoins not as a standalone experiment but as one layer in a broader payments architecture that also includes bank-issued tokenized deposits and automated commerce tools. While the company gave no timeline for a full launch of its new platform, its earnings call made clear that it is expanding its role in blockchain-based settlement while keeping its options open across multiple tokens and networks.