Stablecoin Card Spending on Track to Hit $50 Billion by 2028

Global stablecoin card spending is expected to quadruple by 2028, reaching $50 billion annually. This projection comes from RedotPay, a stablecoin payments company based in Hong Kong. According to Reuters, stablecoin card spending surpassed $1 billion in July, setting a monthly record.

The acceleration of adoption can be attributed to the growing use of stablecoins in cross-border payments, treasury operations, cryptocurrency settlements, and as stores of value in volatile economies. RedotPay's co-founder and head of partnerships, Jonathan Chan, stated that Latin America has the highest adoption and greatest potential for growth at the moment, followed by Africa.

The growth is driven by a combination of factors, including real payment pain, easy stablecoin access, strong fiat off-ramps, and regulatory clarity. RedotPay has over eight million users and an annualized payment volume exceeding $14 billion, including account top-ups and card spending.