Stablecoin card spending crosses $10.9B

Cumulative stablecoin card spending has surpassed $10.9 billion, according to Paymentscan data cited by payment provider RedotPay on Aug. 25.

Paymentscan data cited by RedotPay placed cumulative stablecoin card spending above $10.9 billion worldwide overall.

July 2026 produced a record month, with card spending exceeding $1 billion for first time.

RedotPay predicts annualized spending will reach $50 billion by 2028, but independent confirmation remains unavailable.

RedotPay reported more than eight million users and over $14 billion in annualized payment volume.

Visa has expanded stablecoin-linked card access through its network spanning more than 175 million location.

Paymentscan recorded more than $1 billion in card spending during July 2026, making it the largest month in its tracked dataset. Three years earlier, the industry processed approximately $60,000 per month, according to RedotPay.

Stablecoin cards allow customers to fund a payment credential using assets such as USDC or USDT. The provider converts the stablecoin into the merchant's local currency, allowing the transaction to use existing Visa or Mastercard infrastructure, according to an a16z crypto analysis.

Merchants therefore receive a conventional card payment rather than handling cryptocurrency directly. Customers can use stablecoin balances at stores and online services that do not otherwise accept digital assets.

Paymentscan's overview recorded approximately $1.04 billion in July spending, compared with $339.4 million one year earlier. The monthly figure more than tripled during that period.

However, Paymentscan's totals vary according to the selected dataset. An onchain-focused breakdown cited by a16z placed July volume near $759 million and recorded almost nine million purchases. Paymentscan's broader overview includes additional offchain feeds from card providers.

The difference does not necessarily make either figure incorrect. It means readers should identify whether a total includes provider-supplied offchain data or only transactions visible through supported blockchain networks.

USDC accounted for approximately 58% of the onchain card spending tracked by a16z in July, while USDT represented roughly 26%. Euro-backed stablecoins had previously held a larger share but declined to about 2%, according to the published dataset.

The average transaction in the onchain dataset was approximately $86. This supports RedotPay's argument that stablecoin cards are increasingly being used for ordinary purchases, including subscriptions, groceries and travel.

Stablecoin card payments remain small compared with conventional card networks. More than $20 trillion is expected to be spent using traditional cards during 2026, according to data cited by RedotPay.

Still, payment networks have expanded the infrastructure supporting these products. Visa says stablecoin-linked cards can reach more than 175 million merchant locations without requiring merchants to accept stablecoins directly.

Visa and Bridge announced plans in March to expand stablecoin-linked cards into more than 100 countries. Mastercard has also added stablecoin settlement options and partnerships serving Africa, the Middle East and other emerging markets.

RedotPay predicts the industry will process its next $10 billion in eight months, compared with approximately three years for the first $10 billion.

It also expects stablecoin cards to reach $50 billion in annualized spending by 2028. That figure is a company forecast, not a confirmed projection from Paymentscan, Visa or Mastercard.

RedotPay co-founder Jonathan Chan said Latin America currently has the highest adoption and growth potential, followed by Africa. He attributed growth to payment needs, stablecoin availability, stronger fiat conversion infrastructure and clearer regulations.

The Hong Kong-based company reported more than eight million users. It also said its annualized payment volume exceeds $14 billion, although that number includes account top-ups alongside completed card purchases.

RedotPay did not provide audited financial documentation supporting the user and annualized-volume figures. They should therefore be treated as company-reported metrics.

Stablecoin card adoption has benefited from easier deposits, improved fiat conversion and integrations with mobile wallets. RedotPay advertises support for everyday purchases and stablecoin transfers through its payment platform.

These features allow consumers to use stablecoins without requiring merchants to process blockchain transactions. The card provider and its partners manage conversion, authorization and settlement behind the payment.

The products may be useful in markets where access to dollar accounts, international cards or cross-border payments remains limited. Dollar-backed tokens provide digital dollar exposure, while card networks supply the connection to conventional points of sale.

Related crypto.news analysis found that stablecoins increasingly power crypto cards by reducing the payment volatility associated with assets such as Bitcoin or Ether.

Stablecoins still carry issuer, custody, compliance and blockchain-network risks. Cards can also introduce conversion charges, transaction fees and geographic restrictions that vary among providers.

The next evidence point will be whether monthly spending remains above $1 billion after July. Sustained increases across transaction counts, active users and several independent card programs would provide stronger support for RedotPay's 2028 forecast.