Stablecoins Fuel $1 Billion Crypto Card Spending Milestone

Crypto card spending has seen significant growth over the past year, reaching a milestone of $1.04 billion in July, according to CoinDesk.

This marks more than a tripled increase from the same period last year and represents a major shift in how people use stablecoins.

Dollar-backed stablecoins accounted for 70% of over 10 million tracked transactions during this time, with USDC making up around half of the volume, while Tether's USDT accounted for 20.3%, a significant increase from its 7% share last year.

Crypto cards allow users to spend stablecoins and other digital assets on existing payment networks without merchants needing to accept cryptocurrency directly, with balances converted at checkout into local currency.