Visa’s CFO downplays the importance of stablecoin and agentic commerce to the U.S. payments giant—at least in the short term

Payments giant Visa is growing at its fastest rate in years, but it’s not because of some of its latest innovations in digital currencies and agentic AI. 

Visa first started offering stablecoin settlements in 2023 and now has 130 stablecoin-linked card issuing programs across 40 countries. It’s also experimenting with agentic commerce, or allowing AI agents to make payments on their own.

Yet just $7 billion of annual settlements on Visa’s platform are made in cryptocurrencies, compared with $14 trillion overall.

“I’m hesitant to lean into the stablecoin and agentic commerce narratives too much,” Chris Suh, Visa’s chief financial officer, tells Fortune. “If you look at our business today, the vast majority of it has nothing to do with those things.”

Visa reported net revenue of $11.2 billion in the second quarter of 2026, up 17% year-on-year. That marks the fastest growth for the company since 2022.

“Our momentum in consumer, commercial and money movement is clearly strong and will strengthen with agentic commerce and stablecoins,” said Visa CEO Ryan McInerney during the Q2 earnings call. “In many countries around the world, especially in emerging markets,........

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