USDC-Backed Debit Cards Fuel Stablecoin Spending Surge

Stablecoin card spending reached $1.03 billion in July, marking its first time surpassing this milestone, according to recent data.

This represents a 16% increase from June and a whopping 200% rise compared to last year's figures.

The growth is largely attributed to Jupiter Global's USDC-backed Visa debit card, which enables users to spend stablecoins directly at over 150 million merchants worldwide.

Notably, the platform experienced a significant surge in new users, with a 65% month-over-month increase in July, even after ending its initial cashback promotions.