Digital currency card transactions reached $1.04 billion in July, registering a threefold year-over-year increase as stablecoins continue to become a preferred medium for everyday consumer spending. This significant jump in activity was outlined in data tracked by Paymentscan and highlighted by venture capital firm a16z.
USDC and USDT dominate transactions
Stablecoins pegged to the US dollar played a decisive role in structuring overall payment flows throughout the period. USDC, which is issued by financial technology company Circle, comprised 50.8% of July’s total transaction volume, while USDT, operated by Tether, represented 20.3%. These two assets powered over 70% of the more than 10 million transactions monitored that month.
The average value per transaction also rose notably, reaching $86 in July. This figure reflects a dramatic jump from the $59 mean recorded twelve months prior. In comparison, July 2025 saw total monthly volume at $306 million, underscoring the scale of recent growth.
Combined, USDC and USDT powered more than seven out of every ten card transactions in July, while the mean transaction value jumped from $59 in 2025 to $86.
Three platforms lead market share
A majority of the spending was funneled through three principal platforms: RedotPay, EtherFi, and KAST. RedotPay processed $395.1 million in transactions, EtherFi managed $100.3 million, and KAST facilitated $89.6 million. Collectively, these three companies accounted for roughly 77% of all monitored card expenditures.
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AAPLVisa continues to expand its reach in the stablecoin-integrated payment sector, with over 160 crypto card programs currently operating or in development worldwide. StraitsX, a payments platform serving Asia and a Visa partner, reported a fortyfold rise in its card transaction volume between Q4 2024 and Q4 2025.
Mini dictionary: RedotPay, EtherFi, and KAST are leading digital currency card platforms that enable users to pay with cryptocurrencies or stablecoins, instantly converting them to fiat currency at the point of sale.
| Platform | Transaction Volume (July) | Market Share (%) |
|---|---|---|
| RedotPay | $395.1 million | Approx. 38% |
| EtherFi | $100.3 million | Approx. 10% |
| KAST | $89.6 million | Approx. 9% |
| Other providers | Remaining $455 million | Approx. 43% |
Consumer purchases drive adoption
Spending analysis showed robust uptake among Latin American markets, with food and grocery purchases emerging as key use cases. Binance, one of the world’s largest cryptocurrency exchanges, reported significant adoption in Brazil. Its Brazilian card user base grew 53%, and transaction volumes surged 80% since its card product launch through the second quarter of 2026. The most active spending categories included ride-hailing, food delivery, grocery retail, restaurants, and various digital subscriptions.
Kraken, a major cryptocurrency trading platform, shared that its Krak Card saw weekly user transaction rates more than double during the past year, with the average customer making 8.3 card purchases per week. Retail and in-store payments formed 59.3% of all Krak Card usage.
Oobit, a crypto payment provider, stated that its engaged Brazilian customers spent an average of $400 over 20 monthly transactions, with grocery shopping comprising 35% of regional card volume. In Argentina, food-related transactions amounted to 41% of card purchases, and USDT was used in 72% of payments.
Emerging markets surpass developed economies
StraitsX documented a 600% growth in transaction value across emerging economies between March 2025 and February 2026. By contrast, higher-income markets experienced a 150% increase over the same period. Regardless of market, food and retail purchases led spending.
Coinbase, a major cryptocurrency exchange based in the US, disclosed that 16% of its overall card spend involved USDC. Active Coinbase One cardholders averaged monthly spending of about $3,000, distributed among USDC, other cryptocurrencies, and bank transfers. Coinbase’s USDC balances across its ecosystem reached $20 billion, reflecting a 44% annual rise.
RedotPay also reported that its user base grew by more than a third in six months, surpassing 8 million registered customers. The euro-pegged EURe stablecoin, once dominant at 88% share in early 2024, sharply fell to less than 2% of total card volume by July.
Cryptocurrency payment cards operate by instantly converting stablecoins at checkout, allowing merchants to continue accepting fiat currency. This method integrates blockchain-based assets into existing payment infrastructures without replacing traditional systems.
