Stablecoin-Powered Card Purchases Surge Past $1 Billion Mark in July

Key Highlights

• Monthly crypto card payments reached $1.04 billion in July, representing a three-fold increase from the previous year
• Stablecoins USDC and USDT combined to power more than 70% of over 10 million monitored payments
• Mean transaction value climbed to $86, marking a 46% jump from $59 recorded one year prior
• Three platforms—RedotPay, EtherFi, and KAST—captured approximately 77% of total tracked payment volume
• Latin American markets show robust growth, with food and grocery purchases leading spending patterns

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Digital currency payment cards surpassed the $1 billion monthly threshold in July, marking a significant milestone as stablecoins increasingly power everyday consumer purchases. According to Paymentscan data highlighted by venture firm a16z, transaction volume reached $1.04 billion, representing substantial growth from the previous year’s figures.

U.S. dollar-pegged stablecoins dominated transaction flow throughout the period. USDC captured 50.8% of July’s total volume, with USDT contributing an additional 20.3%. Combined, these two digital assets backed more than seven out of every ten transactions among the 10 million-plus payments tracked during the month.

Payment sizes expanded notably as well. The typical transaction averaged approximately $86 in July, representing a significant increase from the $59 average recorded twelve months earlier. For context, monthly payment volume stood at $306 million in July 2025, based on the same dataset.

Platform concentration remains a defining characteristic of this emerging market. RedotPay processed $395.1 million of July’s total activity. EtherFi recorded $100.3 million in volume, while KAST contributed $89.6 million. These three providers collectively represented approximately 77% of all monitored spending.

Major payment networks are expanding their stablecoin infrastructure. Visa announced in June that it had over 160 stablecoin-connected card programs either operational or under development across global markets. StraitsX, operating as a Visa partner, reported that transaction volume on its card platform increased 40 times between Q4 2024 and Q4 2025.

Daily Purchases Lead Transaction Growth

Purchase categories reveal a distinct move toward regular consumer spending. Binance disclosed that its Brazilian card user base expanded 53% from program launch through Q2 2026, while transaction volume surged 80%. Leading purchase categories included transportation services, meal delivery, supermarkets, dining establishments, and digital subscription services.

Kraken shared that its Krak Card experienced weekly transaction frequency that more than doubled year-over-year to 8.3 payments per cardholder. Retail and brick-and-mortar store purchases represented 59.3% of card spending activity.

Oobit disclosed that engaged Brazilian cardholders averaged approximately $400 in spending across 20 separate transactions monthly. Supermarket purchases accounted for 35% of regional transaction activity. In Argentina, food-related spending comprised 41% of all transactions, with USDT facilitating 72% of payments.

Emerging Markets Show Accelerated Adoption

StraitsX documented that gross transaction value increased approximately 600% in lower-GDP territories between March 2025 and February 2026. Meanwhile, higher-GDP markets experienced 150% growth during the identical timeframe. Food and retail categories dominated spending across both market segments.

Coinbase indicated that roughly 16% of aggregate card transaction volume utilized USDC. Active subscribers to Coinbase One averaged approximately $3,000 in monthly spending across USDC, alternative cryptocurrencies, and traditional bank transfers. The platform currently holds $20 billion in USDC across its various products, reflecting 44% growth over the past year.

RedotPay announced its user base expanded by more than 33% across a six-month period, surpassing 8 million registered customers. The euro-denominated EURe stablecoin, which previously represented 88% of monitored card spending in early 2024, declined to under 2% of total volume by July.

The underlying mechanism of crypto cards involves real-time conversion of stablecoin balances during checkout, ensuring merchants receive payment in their local fiat currency. This approach positions stablecoins as funding sources for established card networks rather than competing alternatives.

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Source: https://blockonomi.com/stablecoin-powered-card-purchases-surge-past-1-billion-mark-in-july/