Visa Towers Over Crypto Card Payments Market

Visa has dominated the market for crypto card payments, according to recent data from KuCoin. The payment processing giant handles approximately ~98% of all crypto card spend.

Mastercard lags far behind, accounting for just ~2%. This disparity is evident in the significant difference in transaction volume between the two companies, with Visa handling $759M in monthly transactions.

The dominance of traditional payment rails in the crypto space is a notable trend. Even as stablecoins become increasingly onchain, the 'last mile', or the final step in processing payments, remains tied to established infrastructure.