Crypto Card Payments Surge to Record $1.04 Billion in July as Stablecoin Spending Explodes

Cryptocurrency-backed card payments soared to an unprecedented $1.04 billion in July, shattering previous records as stablecoin usage for everyday transactions skyrockets. According to new data from Paymentscan and venture capital firm a16z, the monthly volume marks a dramatic leap from the same period last year, driven primarily by the surging adoption of USDC and USDT in consumer purchases. This milestone underscores a major shift in spending habits, with stablecoins now dominating crypto card transactions, while emerging markets lead the charge in real-world digital asset utilization.

Stablecoins drive bulk of spending

Stablecoins pegged to the US dollar accounted for the majority of transaction flow throughout July. USDC was responsible for 50.8% of total volume, while USDT contributed a further 20.3%. Together, they supported over 70% of more than 10 million tracked payments during the month.

The mean transaction value also climbed sharply, with the average payment reaching $86 in July, up from $59 one year earlier. Twelve months prior, total monthly payment volume stood at $306 million, demonstrating rapid growth in stablecoin-fueled activity.

Platform concentration remains notable, with RedotPay handling $395.1 million of July’s total volume. EtherFi reported $100.3 million and KAST processed $89.6 million, meaning these three firms combined captured about 77% of tracked payment activity.

Major payment networks are actively expanding their stablecoin infrastructure. Visa disclosed in June that it has more than 160 card programs connected to stablecoins, either live or under development globally. Singapore-based StraitsX, which partners with Visa, reported a fortyfold increase in transaction volume on its card platform between Q4 2024 and Q4 2025.

Mini dictionary: StraitsX is a Singapore-based payment infrastructure provider that enables users and businesses to access stablecoin-based payment solutions and operates the XSGD and XUSD stablecoins.

Consumer spending categories shift

Payment data reflected a shift toward daily, retail-focused transactions. Binance reported a 53% increase in its Brazilian card user base from launch through Q2 2026, with transaction volume up 80%. Brazilians primarily used crypto cards for transportation, meal deliveries, grocery shopping, dining, and subscription services.

Kraken revealed that its Krak Card users averaged 8.3 payments per cardholder each week, more than double the figure from the prior year. Card usage at retail and physical stores comprised 59.3% of all Krak Card spending.

Mini dictionary: Krak Card is a debit card product offered by Kraken, a major global cryptocurrency exchange, enabling users to spend digital assets as fiat currency at merchants worldwide.

Oobit, another payment fintech, stated that Brazilian cardholders spent an average of $400 per month across 20 separate transactions, with supermarket purchases representing 35% of regional volume. In Argentina, food-related expenses accounted for 41% of all card payments, and USDT was used for 72% of transactions.

Strong adoption in emerging markets

StraitsX data highlighted especially robust growth in lower-GDP countries, where gross transaction value rose around 600% from March 2025 to February 2026. By contrast, higher-GDP markets experienced growth of 150% over the same period. Food and retail remained top spending categories in both segments.

Coinbase reported that 16% of its total card transactions used USDC. Subscribers to Coinbase One, a service targeting frequent traders, averaged $3,000 in monthly payments across stablecoins, other digital assets, and traditional bank transfers. Coinbase also holds $20 billion in USDC balances, marking a 44% increase year-over-year.

RedotPay announced that its user count grew more than 33% in six months, reaching over 8 million registered accounts. Meanwhile, use of the EURe, a euro-backed stablecoin, declined from 88% of observed card spending in early 2024 to below 2% in July.

Crypto cards work by automatically converting stably held cryptocurrencies to local currency at the point of sale, allowing merchants to receive fiat funds instantly. This real-time conversion process means stablecoins now serve as funding mechanisms for existing payment networks rather than acting as standalone competitors.

Visa is actively building stablecoin payment infrastructure, supporting more than 160 card programs worldwide and collaborating with partners like StraitsX as digital assets increasingly drive consumer transactions.