Stablecoin-Fueled Crypto Cards Hit $1 Billion in Spending

Cryptocurrency cards have gained significant traction over the past year, surpassing $1 billion in spending in July. According to data from Coinspot.io, the majority of these transactions were funded through stablecoins pegged to the US dollar, with USDC and USDT accounting for more than 70% of turnover.

The average transaction amount increased to around $86, up from $59 a year earlier. This growth is especially noticeable in emerging markets, where StraitsX reported a roughly 600% increase in gross transaction value in regions with lower GDP.

Thomas Gregory, vice president of payments and fiat at Binance, noted that the true measure of cryptocurrency progress is not just the number of people holding digital assets, but how useful these assets become in everyday life. He added that cards topped up with stablecoins show how digital assets are being integrated into ordinary financial scenarios and give users more flexibility in spending, transfers, and access to money.