Crypto Card Spending Hits Record $759 Million in July

Crypto card spending hit an all-time high in July 2026, reaching $759 million. This represents a more than doubling from the $306 million recorded a year earlier, according to data from blockchain analytics firm Paymentscan cited by venture capital firm a16z.

The surge in spending was accompanied by a sharp increase in transaction volume, with nearly 9 million crypto card purchases completed during the month. The average transaction size held steady at approximately $86, indicating that consumers are using crypto-funded cards for everyday purchases rather than large-ticket transfers.

Dollar-backed stablecoins dominated activity, with Circle's USDC capturing roughly 58% of July's total crypto card volume and Tether's USDT accounting for another 26%. Combined, the two dollar-pegged assets represented about 84% of all tracked spending.