Crypto Card Spending Soars to $759 Million in July

Significant Increase in Crypto Card Spending

Crypto card spending reached $759 million in July 2026, marking a 2.5-fold increase compared to the same month last year. This surge is attributed to nearly 9 million purchases primarily settled using dollar-backed stablecoins such as USDC and USDT.

Purchase Statistics

The $759 million figure represents a substantial rise from $306 million in July 2025. Cardholders averaged about $86 per purchase, reflecting a year-over-year spending growth alongside the number of transactions. Spending levels have dramatically increased from under $1 million in October 2023 when tracking began.

Leading Stablecoins and Blockchain Usage

In July, USDC accounted for approximately 58% of the total crypto card spending, while USDT followed with 26%. Together, these stablecoins made up 84% of the tracked volume. This is a significant increase from their respective shares of 48% and 7% one year prior.

Blockchain Settlement Breakdown

The leading blockchain for processing these transactions was Optimism, which handled 29% of the total spending. This was closely followed by Solana and Base, each at 19%. Gnosis represented just about 2% of the activity, having been the primary blockchain early in the crypto card ecosystem.

Evolution of Crypto Payment Cards

Crypto payment cards enable users to transact in stablecoins, automatically converting digital currencies to the merchant’s local fiat currency at checkout. Transactions are processed through well-established card networks, allowing cardholders to spend their stablecoin balances across a vast network of Visa-accepting merchants.

Regulatory Landscape and Future Trends

The development of the U.S. regulatory framework under the GENIUS Act, enacted in July 2025, plays a crucial role in shaping payment stablecoins. The Act outlines standards for stablecoin issuers, leading to increased adoption of stablecoin payment capabilities.

Visa continues to diversify its services across various stablecoins, maintaining its infrastructure without favoring any single token. Plans to launch stablecoin-backed cards in multiple countries enhance the accessibility of crypto payments in the mainstream financial ecosystem.