Stablecoin Card Spending to Hit $50 Billion Annually by 2028

Global stablecoin card spending is expected to quadruple by 2028, reaching $50 billion annually according to Hong Kong-based company RedotPay. This projection comes after a record month in July when global stablecoin card spend reached $1 billion, based on data from Paymentscan.

The growth of stablecoins has accelerated in recent years as they gain traction in cross-border payments, treasury operations, crypto settlement, and as a store of value in volatile economies. Latin America currently has the highest adoption rate, followed closely by Africa, according to Jonathan Chan, co-founder and head of partnerships at RedotPay.

Chan attributes the growth to several factors, including real payment pain, easy stablecoin access, strong fiat off-ramps, and regulatory clarity. The company itself has seen significant growth, with over 8 million users worldwide and a total annualized payment volume exceeding $14 billion.