Overview
- Paymentscan data highlighted by a16z shows monthly crypto card volume reached $1.04 billion in July 2026, roughly three times the level a year earlier.
- U.S. dollar‑pegged stablecoins dominated funding with USDC at 50.8% and USDT at 20.3%, together backing more than 70% of over 10 million tracked transactions.
- Three platforms drove most activity: RedotPay processed $395.1 million, EtherFi $100.3 million, and KAST $89.6 million, leaving those firms with about 77% of tracked volume.
- Use is shifting toward everyday spending in lower‑GDP markets, especially Latin America, where groceries, restaurants and ride‑hailing are top categories and cards convert stablecoins into local fiat at checkout.
- Major payment firms are scaling support—Visa reported 160+ stablecoin card programs—while large USDC holdings and platform concentration raise questions about operational resilience and regulatory treatment.