Crypto card spending tops $1B as stablecoins enter daily use

• Crypto card spending reached $1.04 billion in July, more than tripling from a year earlier.
• USDC and USDT funded 70% of more than 10 million tracked transactions.
• Users increasingly spent stablecoins on groceries, rides, food delivery and subscriptions.

Crypto card spending reached $1.04 billion in July, more than tripling from a year earlier, according to Paymentscan data cited by a16z.

Dollar-backed stablecoins funded 70% of more than 10 million tracked transactions, with USDC accounting for 50.8% and USDT 20.3%.

The average payment also rose to about $86 from $59 a year earlier, suggesting greater use for everyday purchases.

Crypto cards allow users to spend stablecoins through existing payment networks without merchants directly accepting crypto.

Visa said in June that more than 160 stablecoin-linked card programmes were live or being developed worldwide.

Emerging markets are driving much of the growth, with StraitsX reporting a 600% rise in transaction value across lower-GDP markets.

The tracked market remains concentrated, with RedotPay, EtherFi and KAST accounting for about 77% of July volume.