Stablecoin Card Spending Forecasted to Reach $50 Billion by 2028

A prediction from RedotPay suggests that the total spending on stablecoin cards will reach $50 billion annually by 2028, up from its current level of around $12.9 billion. This projection is based on data from Paymentscan, which analyzed the market and found that July's stablecoin card spending reached a record high of $1 billion.

RedotPay's co-founder Jonathan Chan stated that 'the growth rate is not necessarily tied to the adoption rate' of cryptocurrencies in a particular region. He noted that several factors contribute to the growth, including ease of access to stablecoins, availability of cash-out options, and regulatory clarity.

Chan also mentioned that Central and South America have the highest adoption rates, followed by Africa. RedotPay has over 8 million users worldwide and reported a total processing volume exceeding $140 billion annually.