Crypto Card Spending Jumps Threefold in a Year, Paymentscan Data Shows
What's happening
Crypto-funded card spending surged to about $1.04 billion in July, more than tripling year-on-year according to Paymentscan analytics. Payments on these cards have shifted toward retail purchases like groceries, transport and fuel, with dollar-backed stablecoins accounting for roughly 70% of the more than 10 million tracked transactions. OKX separately reported European OKX Card purchase volume up 280% year-on-year this summer and card transaction counts rising 178% over the same period. The trend highlights stablecoins moving from trading and cross-border use into everyday consumer payments.
Why it's trending
Multiple analytics firms and card issuers are reporting concurrent, large month-over-month and year-over-year jumps in crypto-card retail usage driven by stablecoins.
Signal2.0× its usual volume, confirmed across 1 independent source type.
Momentum
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If crypto cards have really 'arrived' because they hit $1.04 billion in a month, why are stablecoins doing the heavy lifting instead of Bitcoin or Ether?
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Original sources5
- Fueled by Stablecoins, Monthly Crypto Card Purchases Top $1 Billion
Crypto cards have the potential to bridge the longstanding gap between digital assets and established retail infrastructure—and finally bring widescale crypto payments to checkout. According to Paymentscan, the usage of these products is rapidly accelerating, hitting an all-time monthly record of roughly $1.04 billion in July. The analytics firm noted that the figure was up […] The post Fuel
PaymentsJournalAug 24 - Crypto card spending tops $1bn as Stablecoins move into everyday payments
Cryptocurrency-funded card spending has more than tripled over the past year topping $1bn, offering further evidence that stablecoins are moving beyond trading and cross-border transfers into everyday consumer payments. Monthly... read more The post Crypto card spending tops $1bn as Stablecoins move into everyday payments appeared first on Payments Industry Intelligence .
Payments Industry IntelligenceAug 24 - Virtual Cards Are Poised for a Banner Year in Commercial Payments
On the surface, virtual cards are all about control and security. They allow users to set transaction limits, establish time parameters, and define usage restrictions before a payment ever takes place. But the forces driving the next wave of adoption go beyond those traditional benefits. This year, virtual cards are gaining momentum because they sit […] The post Virtual Cards Are Poised for
PaymentsJournalAug 24
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