Stablecoin card spending hits US$1.08B record

• Stablecoin-linked card spending reached a record US$1.076 billion in August, according to PaymentScan data.
• August marked the second straight month above US$1 billion in tracked spending.
• RedotPay accounted for about US$390.1 million, or 36% of August spending.

Stablecoin-linked card spending reached a record US$1.076 billion in August, according to PaymentScan data.

The figure followed July spending above US$1 billion, marking two consecutive months above that level.

August also recorded 10.67 million transactions and 283,653 active card addresses, according to the data.

RedotPay accounted for about US$390.1 million, representing roughly 36% of tracked August spending.

The data tracks card payments funded by stablecoins across supported payment platforms and services.

PaymentScan’s figures show stablecoin card activity continuing to rise, although they do not represent the entire stablecoin payments market.

The August data provide a measure of tracked card activity, rather than proof that stablecoin cards have reached mainstream adoption.