Crypto Cards Hit Record Volume as Stablecoin Use Surges

Crypto card volume reached a record $748.7 million in July, marking the fifth consecutive monthly increase, according to onchain analytics tracker Paymentscan.

The July volume rose 19.1% from June's $628.7 million and 144.7% from $306 million a year earlier, per Paymentscan, which indexes card transactions across roughly 20 chains.

Users made 8.77 million transactions from 158,857 active addresses, both records. February was the last down month; each month since March has set a new all-time high.

The big three stablecoin neobanks, RedotPay, KAST, and ether.fi, all posted double-digit growth in July.