Stablecoin Card Spending Tops $10.9B; July Sets Record

Stablecoin Card Use Climbs Past $10.9 Billion

Cumulative global spending via stablecoin-linked cards has surpassed $10.9 billion, according to Paymentscan data cited by payment provider RedotPay on Aug. 25. The milestone highlights accelerating consumer use of stablecoins like USDC and USDT for everyday purchases, enabled by card rails that convert tokens to local fiat at point of sale.

July 2026: A Record Month for Stablecoin Card Payments

Paymentscan recorded roughly $1.04 billion in stablecoin card transactions in July 2026 — the largest monthly total in its dataset. That compares with $339.4 million in July 2025, a more than threefold increase year-over-year. An onchain-focused breakdown cited by a16z placed July volume closer to $759 million and reported almost nine million purchases, indicating that different data feeds (onchain vs. broader offchain provider feeds) produce different totals.

Why the figures differ

The discrepancy stems from dataset scope. Paymentscan’s broader overview includes offchain feeds from card providers and processor-reported transactions, while the onchain view only counts transactions visible on supported blockchains. Neither approach is inherently wrong; readers should identify whether a reported total includes provider-supplied offchain data or only transactions provable onchain.

How Stablecoin Cards Work

Stablecoin cards let customers fund a payment credential using dollar-pegged tokens such as USDC or USDT. At checkout, the provider converts the stablecoin into the merchant’s local currency so the merchant receives a conventional card payment via Visa or Mastercard rails. That preserves the merchant experience while giving consumers a way to spend crypto balances in stores and online platforms that do not accept digital assets directly. You might also like: Stablecoins fail payment credibility test, BIS says Stablecoin card spending passed $1B in July Stablecoin cards allow customers to fund a payment credential using assets such as USDC or USDT. The provider converts the stablecoin into the merchant’s local currency, allowing the transaction to use existing Visa or Mastercard infrastructure.according to an a16z crypto analysis.

Dollar Stablecoins Dominate Card Transactions

Onchain data tracked by a16z showed USDC accounted for about 58% of card spending in July, with USDT representing roughly 26%. Euro-backed stablecoins have shrunk to near 2% of onchain card volumes. The average onchain transaction was approximately $86, supporting the view that stablecoin cards are being used for routine retail purchases such as subscriptions, groceries, travel and everyday services.

Network Reach: Visa, Mastercard, and Payment Providers

Despite rising adoption, stablecoin card payments remain small compared with traditional card volumes. RedotPay cited market data projecting more than $20 trillion in conventional card spending for 2026. Still, major payment networks and card issuers are expanding infrastructure for token-anchored settlement. Visa reports that stablecoin-linked cards can reach over 175 million merchant locations without requiring merchants to accept stablecoins directly. In March, Visa and partners announced plans to bring stablecoin-linked cards to more than 100 countries, and Mastercard has rolled out stablecoin settlement options and partnerships across Africa, the Middle East and other emerging markets.

Provider metrics and transparency

RedotPay reported more than eight million users and claimed annualized payment volume exceeding $14 billion. The firm forecasts the industry will process the next $10 billion in roughly eight months and expects stablecoin cards to reach $50 billion in annualized spending by 2028. These are company-reported projections and have not been independently audited or confirmed by Paymentscan, Visa, or Mastercard, so readers should treat them as forward-looking forecasts rather than verified market facts.

Why Stablecoin Cards Are Gaining Traction

Adoption has been driven by improved onramps and fiat conversion infrastructure, mobile wallet integrations, and easier top-ups. For consumers in regions with limited access to traditional dollar accounts or international cards, dollar-pegged tokens provide digital dollar exposure while the card network handles settlement and merchant acceptance. RedotPay and other platforms promote everyday spending use cases and seamless conversions so users can pay with stablecoins without merchants needing to process blockchain transactions.

Risks and Open Questions

Stablecoin card ecosystems still carry issuer, custody, compliance and blockchain-network risks. Cards may introduce conversion fees, transaction charges, and geographic restrictions that vary across providers. The degree to which monthly spending stays above $1 billion, and whether growth is sustained across multiple independent programs and providers, will be an important indicator of long-term retail adoption. Independent data corroboration, audited provider metrics, and clearer regulatory frameworks will be critical for establishing credible, enterprise-grade payment alternatives powered by stablecoins.

Outlook

Stablecoin cards are narrowing the gap between crypto liquidity and traditional point-of-sale acceptance by leveraging established card rails and stable dollar-pegged tokens. While current volumes remain small relative to conventional card spending, expansion of network reach, partnerships with Visa and Mastercard, and improving fiat onramps could accelerate growth. The next key milestones to watch are sustained monthly volumes above $1 billion, broader geographic expansion, and independent verification of provider-reported metrics supporting lofty forecasts like RedotPay’s $50 billion annualized target for 2028.