Crypto payment cards saw a remarkable surge in March, with monthly spending on these cards soaring to $606 million. According to data from payments analytics firm PaymentScan, this sharp uptick represents a fivefold (500%) growth since September 2024. The rapid increase in crypto card activity highlights how these business models are emerging as some of the fastest-growing on public blockchains.
Tron leads network competition
March data revealed that 35% of all crypto card spending occurred directly on the Tron network. BNB Chain captured a 15% share, while the rest was distributed among smaller networks. Tron’s dominance is attributed to its substantial liquidity and the network’s swift transfer capabilities, allowing it to edge out competitors in the market.
Tron is recognized in the blockchain world for its fast and low-cost transaction infrastructure. In the first quarter of 2026 alone, approximately $2 trillion in USDT was transferred over Tron. During this period, 98.6% of all circulating stablecoins on the network consisted of USDT. With block times of just three seconds and a resource-based fee model, Tron has established advantages for peer-to-peer payments, promising both speed and minimal cost.
Justin Sun, founder of Tron, stated in April, “Stablecoins now form the core infrastructure of global value transfer.”
Visa’s critical influence and regional growth
Visa holds a pivotal position in the crypto card ecosystem, processing roughly 90% of all card-based crypto transactions in March. Rather than working through traditional banks, Visa has strengthened its leadership by partnering directly with crypto infrastructure providers. Its Bridge stablecoin card program is set to expand into new regions by 2026, cementing Visa’s influence in this evolving sector.
On a regional basis, Southeast Asia takes the lead with this spending model. From 2024 to 2025, local card issuance in the area increased by a staggering 83 times, and Southeast Asia now accounts for 60% of global stablecoin payments. For regions where banking infrastructure is either limited or costly, crypto cards have become a foundational tool, dramatically improving financial access for users.
The rapid market expansion has fueled fierce competition among new card issuers. Specifically, the Solana-based Jupiter Global Visa card saw its monthly user base grow by 660% in April. This card offers users cashback rewards ranging from 4% to 10%, depending on their category. Other solutions like Pengu Card enable spending in USDC and USDT at about 150 million locations worldwide. While USDC’s role in card transactions is expanding, USDT maintains its dominance in total on-chain supply.
Stablecoins bridge blockchain and daily spending
Crypto card systems operate at the intersection of three players: stablecoins facilitate the storage and chain-based transfers of funds, payment firms like Visa provide the processing backbone for peer transactions, and users benefit from simplified spending. This integrated approach reshapes traditional processes such as exchange withdrawals and bank transfers, condensing them into a one-tap card payment. As a result, crypto assets have moved fluidly from on-chain transfers into everyday consumer spending.
According to industry analyst Marty Party, stablecoin cards compatible with Apple Pay and Android Tap are expected to reach 10 million users before most merchants begin accepting stablecoins directly.
“Stablecoins are now competing not only for on-chain liquidity, but also for a place in consumers’ wallets.”
