Visa disclosed that stablecoin card payment volume across its 160 active stablecoin-linked card programs grew nearly 200% year-over-year in fiscal 2026.

Tokens pegged to stable value, usually the US dollar, spanning issuers and reserves, depegs, and adoption by banks and payment networks.

Supply, adoption, and competitive dynamics of fiat-pegged tokens, tracking issuers like Tether and Circle and the payment and trading flows they power.