According to Odaily Planet Daily, Visa released a report titled "Stablecoins: Beyond Payments - On-Chain Lending Opportunities," redefining decentralized finance as "on-chain finance." The report aims to make decentralized credit more institutionally compatible in the GENIUS Act era and explains how banks and private credit funds can integrate into this system. Visa envisions institutions becoming liquidity providers for programmable lending protocols, with Visa providing data, compliance, and infrastructure services. Its well-known brand and reliable channels are expected to attract institutional participation with trillions of dollars in capital. The white paper shows Visa's shift from cryptocurrency experimentation to institutional infrastructure development. Since 2020, the "on-chain finance" market has issued over $670 billion in stablecoin loans, with lending reaching a new high in mid-2025. This demonstrates that stablecoins have become a pillar of the automated credit market, capable of continuous operation and instant settlement. Visa's strategy for on-chain finance is similar to that of traditional finance. It does not issue tokens or directly fund loans, but instead conducts technology business without lending risk. (CoinDesk)