Crypto payment card volume surged to $759M in July, 2.5x growth year-over-year.
Macro & Markets ·
Crypto payment card transaction volume reached $759 million in July, representing a 2.5x increase from $306 million a year earlier, according to Paymentscan data. The monthly spend reflects roughly 9 million transactions, putting average transaction size at around $86. These cards function by converting stablecoins—predominantly dollar-backed assets—into local currency at the point of sale, enabling crypto holders to spend across traditional card networks without requiring a conventional bank account.
The growth reflects a significant shift in settlement patterns and stablecoin composition over the past year. Dollar-backed stablecoins now account for the majority of card spending, with USDC representing about 58% and USDT about 26%, compared to roughly 48% and 7% respectively a year prior. Spending has also diversified across multiple blockchain networks, with Optimism, Solana, and Base each carrying roughly 19–29% of volume, versus concentration on Gnosis in early 2024. Euro-backed stablecoins like EURe have fallen to approximately 2% of card volume.
While crypto payment cards remain negligible relative to traditional card networks processing trillions monthly, the segment continues expanding as stablecoins integrate deeper into global financial infrastructure. Whether this growth trajectory will accelerate or plateau amid regulatory and competitive pressures remains unclear.