Cryptocurrency News Today: Visa expands credit business, strategic focus to avoid Bitcoin

Today's core insights into the cryptocurrency market

Today's cryptocurrency news mainly focuses on the advancement of Visa's on-chain credit business, the dynamics of Strategy (formerly MicroStrategy) and security incidents on the Liquid Network. Liquid recovered 3,400 bitcoins after approximately 4,000 of them left its alliance wallet. Strategy suspended Bitcoin purchases and instead spent $176.3 million to buy back STRC preferred shares.

Today's cryptocurrency news focuses on payment infrastructure, Bitcoin treasury management and Liquid security incidents. On September 8, Visa announced that it would connect settlement data with its on-chain lending infrastructure, while Strategy suspended its Bitcoin purchase program. In addition, Liquid recovered 3,400 bitcoins on September 7 after experiencing an abnormal outflow incident involving approximately 4,000 bitcoins. However, as remedial measures continue, approximately 598 bitcoins remain outstanding.

Visa connects settlement data with on-chain credit system

Visa announced on September 8 that it has connected VisaNet's settlement data with on-chain lending infrastructure. The company aims to improve access to working funds for stablecoin-related card issuers and financial technology companies.

Visa stated that lending institutions can combine settlement records with blockchain transaction history when evaluating borrowers. Credit Coop has adopted this model to finance settlement obligations through revolving credit lines denominated in stable currencies.

Under this structure, settlement of receivables must first go through Credit Coop's Spigot smart contract before entering the borrower's operating account. The contract routes repayments from incoming proceeds and uses Visa settlement documents to calibrate financing activities.

Visa reported that in the second quarter of fiscal 2026, there were more than 160 stablecoin-related card projects on its network. Visa pointed out that payments for these items increased by nearly 200% year-on-year.

The company also reported that its annualized operating rate for stablecoin settlement has exceeded US$20 billion, which is more than 15 times the comparable level for the same period last year.

Visa said that since 2023, Credit Coop has provided financing for cumulative settlements of more than $2.5 billion. Its infrastructure handles more than 3,000 borrowing events and 9,000 repayments along the chain.

The payments company's latest move expands its broader stablecoin settlement strategy. As early as April this year, Visa reported that its annualized settlement operation rate was US$7 billion.

Visa points out that early stage card projects often face working funding gaps because settlements are usually done daily. Traditional credit facilities may also require the borrower to have an operating history or a larger pool of accounts receivable before credit can be issued.

Strategy suspends Bitcoin purchases and switches to repurchase STRC shares

According to filings filed with the U.S. Securities and Exchange Commission (SEC), Strategy did not make any Bitcoin purchases between August 31 and September 7. During this period, the company also did not sell any shares through the on-demand market equity plan.

In contrast, Strategy repurchased 1,810,885 STRC preferred shares for US$176.3 million. Documents show the company used U.S. dollar cash to fund these transactions.

Strategy also increased the authorization limit for its Digital Credit Securities Repurchase Program from US$1 billion to US$2 billion. As of September 7, the company's remaining authorizations were $1.19 billion.

Its Bitcoin holdings remain at approximately 845,050. Strategy said the cost of these bitcoins is $63.73 billion, and the average price per bitcoin is $75,412.

Strategy holds $5.1 billion in U.S. dollar reserves and $1.44 billion in U.S. dollar cash. Management uses these pools of funds to pay dividends on preferred shares, interest on debt, Bitcoin purchases and broader capital management.

This allocation decision occurred as another business holder increased exposure. Strive filed with the SEC on September 8 shows that it purchased 1,375 bitcoins between August 31 and September 4.

The average price per Bitcoin paid by Strive was US$79,281, including fees and expenses. The purchase was in sharp contrast to Strategy's focus on backing preferred stocks during the same week.

Liquid recovers 3,400 bitcoins after alliance withdrawal incident

Liquid recovered 3,400 bitcoins on September 7, after approximately 4,000 bitcoins left its alliance wallet. Bitcoin blockchain records confirm the return transaction in blocks 965,950.

Samson Mow, CEO of JAN3 and former Blockstream executive, said that there are still about 598 bitcoins outstanding. He said the return followed Blockstream's confirmation that the affected bridge nodes had been patched.

Liquid disclosed the incident on September 6 and suspended online activities. Reuters reported that about $320 million was withdrawn from the alliance's wallet.

The network said that this withdrawal used SideSwap's Peg-out Authorization Key. Liquid said the key had not been compromised.

SideSwap said that before the alliance released Bitcoin, 4,000 L-BTC entered its anchored withdrawal service. The service said a vulnerability in Elements resulted in affected L-BTC, but its system was not compromised.

Mow said Liquid remains suspended until Blockstream and alliance members complete further security work. The team is also working to resolve chain splitting issues before restarting network services.

Partial restitution restores most of the bitcoins removed in the event. However, outstanding balances and suspended bridging still leave operational risks unresolved.

Liquid's reboot will be the next verifiable crypto market catalyst. As of September 8, Blockstream and Alliance members have not announced an exact restart date.

This article is for information only and should not be regarded as financial or investment advice. Cryptocurrency and stock markets are highly volatile. Readers should conduct independent research before making investment decisions.