USDC and USDT Dominate Stablecoin Card Market with Record Payments

The stablecoin card market has grown rapidly in recent months, with total payments reaching $759 million in July. This represents a significant increase from the same period last year, when payments totaled around $300 million.

USDC and USDT stablecoins dominated the market, accounting for 84 percent of all payments. This is up from their combined share of around 55 percent last year.

The number of transactions also increased sharply, with stablecoin card payments totaling around 9 million in July, compared to around 5.2 million in the same month last year.