Digital-Asset Payment Cards Hit $760 Million in July

The market for digital-asset payment cards has grown significantly, according to a16z Crypto. In July, monthly payment volume reached $759 million, up from a niche product with limited usage in the past.

Transaction numbers have also increased, with about 8.8 million payments made through digital-asset cards in July, representing a 69% growth from roughly 5.2 million transactions a year earlier.

The average payment amount was around $86, indicating that users are spending their digital assets more frequently and in larger amounts.

a16z Crypto noted that the blockchains processing these payments have become more diverse, with Optimism currently leading the market, processing about 29% of total digital-asset card payment volume. Solana and Base followed closely, each accounting for around 19%, while Gnosis fell to about 2%.