Stablecoin Card Spending to Hit $50 Billion by 2028: RedotPay

Stablecoin card spending is expected to reach $50 billion annually by 2028, according to RedotPay. This projection comes after stablecoin card spend crossed $1 billion in July, marking a record month, based on data from Paymentscan.

The Hong Kong-based firm attributes the growth to several factors, including real payment pain, easy stablecoin access, strong fiat off-ramps, and regulatory clarity. RedotPay's co-founder and head of partnerships, Jonathan Chan, notes that Latin America has the highest adoption and greatest potential for growth at present.

The company, which has over 8 million users worldwide, currently sees a total annualised payment volume of more than $14 billion. This includes top-ups and card spends. The growth in stablecoin adoption is attributed to its utility in cross-border payments, treasury operations, crypto settlement, and as a store of value in volatile economies.