Stablecoins Fuel Record Card Transactions Hitting $1 Billion in July

Stablecoin-powered card transactions have reached an all-time high of $1.04 billion in July, marking a three-fold increase year-over-year.

The majority of these transactions, over 70%, were powered by USDC and USDT stablecoins.

According to Paymentscan data, the mean transaction value climbed to $86, up from $59 recorded twelve months prior.

The top three platforms, RedotPay, EtherFi, and KAST, commanded approximately 77% of total monitored spending, with RedotPay accounting for $395.1 million of July's aggregate volume.

Latin American markets demonstrated robust uptake, with food and grocery purchases leading spending patterns.