Stablecoin Cards Surpass $1 Billion in Monthly Spending

Crypto card spending has reached a milestone of $1 billion in a single month. This growth is largely driven by stablecoin-funded cards, which allow users to load a balance in USDC or USDT held in a crypto wallet and spend it directly without converting to cash first.

The use of stablecoins like USDC and USDT has increased due to their transparency, as transaction flows are tracked at the transaction level. This contrasts with earlier crypto debit cards that required converting to fiat before spending, which incurred foreign exchange friction and intermediary costs.

According to McKinsey, total stablecoin card spending was estimated at roughly $4.5 billion for all of 2025, implying an average monthly run rate closer to $375 million. However, the recent surge in spending has pushed the implied annualized run rate toward $12 billion, roughly 2.7 times the baseline.

The growth is increasingly tied to ordinary consumer spending rather than large crypto conversions. In Brazil and Argentina, for example, users spend around $400 across 20 transactions a month, with grocery stores accounting for over a third of that regional activity.