Stablecoin Card Spending Hits Record $789M in September

Stablecoin card spending has hit a record high of $789 million in September, according to a recent report. This marks a significant increase from last year, with volumes growing by nearly 49x from $16 million in early 2025.

Frank Chaparro, an executive at market maker GSR, noted that stablecoins are increasingly being used for everyday payments, rather than just trading and settlement.

In the stablecoin cards segment, USDC (Circle's stablecoin) dominated with a 54% market share in September, outperforming Tether's USDT. This is despite USDT holding 84% of the global stablecoin market share, according to Visa data.