Stablecoin Card Spending Reaches $10.9 Billion as July Volume Tops $1 Billion for the First Time
Key Takeaways
- •July 2026 stablecoin card spending reached a record $1.04 billion, more than triple the $339.4 million recorded in July 2025, bringing cumulative spending above $10.9 billion.
- •Stablecoin cards convert tokens such as USDC or USDT into local currency and route transactions through Visa or Mastercard networks, so merchants receive conventional payments without handling crypto.
- •USDC accounted for about 58% of July on-chain spending, USDT about 26%, and euro-pegged coins 2%, with an average transaction of roughly $86, indicating everyday purchases like groceries and subscriptions.
- •RedotPay projects annualized stablecoin card spending of $50 billion by 2028 and expects to process its next $10 billion within eight months, but these figures are company-reported and unconfirmed by Paymentscan, Visa, or Mastercard.
- •RedotPay co-founder Jonathan Chan identified Latin America as the region with the largest adoption potential, followed by Africa, driven by high inflation and large unbanked populations.
Stablecoin card spending has surpassed $10.9 billion, according to Paymentscan data cited by RedotPay on August 25. July 2026 marked the dataset's highest monthly total on record, with spending exceeding $1 billion for the first time.
Paymentscan's overview put July spending at $1.04 billion — more than triple the $339.4 million recorded in July 2025. RedotPay noted that the growth represents a dramatic shift from three years earlier, when the industry processed roughly $60,000 per month. The growth coincides with a broader regulatory formalization of stablecoins: the United States enacted federal stablecoin legislation in July 2025, and other jurisdictions have since advanced their own frameworks, providing clearer operating rules for issuers and payment providers.
How Customers Use Stablecoin Cards for Purchases
Customers can pay using stablecoin cards funded with tokens such as USDC or USDT. According to a16z analysis, the provider converts the tokens into local currency before routing the transaction through the Visa or Mastercard network. The merchant then receives a conventional card payment without ever handling cryptocurrency, allowing customers to spend digital assets at merchants that do not accept crypto directly. This model effectively lets stablecoins ride on top of existing card rails rather than requiring merchants to adopt new payment infrastructure.
JUST IN: Stablecoin card spend exceeds $1B for the second consecutive month pic.twitter.com/ylI6Rvqt5K — Paymentscan (@Paymentscan) August 30, 2026
However, Paymentscan's figures vary depending on the dataset selected. According to a16z, July transaction volume was near $759 million across nearly nine million purchases.
In July, roughly 58% of on-chain spending was linked to USDC, while USDT accounted for about 26% of transactions and euro-pegged coins fell to 2%. The average on-chain transaction was approximately $86. RedotPay said this pattern indicates that stablecoin cards are being used for subscriptions, groceries, travel, and other everyday payments.
RedotPay Forecasts Faster Stablecoin Card Growth by 2028
Despite the rapid growth, the stablecoin card industry remains small compared with conventional payment networks. RedotPay estimates that more than $20 trillion will be spent via traditional cards in 2026. Stablecoin card spending, even at its record July pace, represents a fraction of one percent of that total, illustrating how early the segment remains.
Major payment systems are also expanding their crypto services. In March, Visa and Bridge announced plans to offer stablecoin-linked cards in more than 100 countries. Mastercard has introduced settlement options and partnerships across Africa, the Middle East, and other emerging markets. These initiatives extend access through payment infrastructure already familiar to consumers and merchants.
According to RedotPay, the company expects to process its next $10 billion in transactions within eight months, after spending three years on the first $10 billion. The provider projects that annualized stablecoin card spending will reach $50 billion by 2028. This forecast was made by RedotPay alone and has not been confirmed by Paymentscan, Visa, or Mastercard.
Why RedotPay Expects Latin America to Lead Card Adoption
Jonathan Chan, RedotPay's co-founder, identified Latin America as the region with the largest adoption rate and growth potential, ranking Africa second. He linked expansion to payment demand, token availability, fiat conversion methods, and regulatory clarity. High-inflation economies and large unbanked populations in both regions have historically driven grassroots stablecoin adoption, since dollar-pegged tokens offer a way to hold dollar-like value without a traditional bank account.
The firm disclosed that it has more than eight million users and placed its annualized transaction volume above $14 billion, a figure that covers both top-ups and card transactions. RedotPay has not published audited documents to support these numbers, and both the user count and annualized volume remain company-reported figures.
