Stablecoin Card Spending Surges Past $1 Billion

Stablecoin-linked card spending hit a record high of $1.17 billion in September, according to recent data from CryptoSlate.

This represents a significant milestone for the market, which is expanding rapidly by linking stablecoins to existing card payment networks.

Cuy Sheffield, head of Visa's crypto division, noted that issuers are opting to link dollar-denominated tokens to existing card networks rather than waiting for merchants to adopt direct crypto payments. He described this as 'an ultra-fast growth mode'.

While the total value of payments increased, transaction volume actually decreased in September, with 11 million transactions recorded compared to 11.07 million in August.