Overview
- The blockchain analytics firm reports that crypto-linked cards now drive most on-chain stablecoin activity.
- Spending via these cards runs at over $15 billion per month, surpassing roughly $11 billion in wallet-to-wallet transfers.
- Most transactions settle through major processors, allowing consumers to use dollar-pegged tokens without merchants accepting crypto directly.
- Visa accounts for more than 80% of tracked card volume, with Mastercard capturing a smaller but growing share.
- Peer-to-peer transfers remain central for remittances, treasury movements, and cross-border use in emerging markets, though growth is more gradual.