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FollowingCryptocurrency card payments soared to US$759 million in July
According to a16z data, cryptocurrency card payments reached US$759 million in July, an increase of approximately 2.5 times from US$306 million in the same period last year. Nearly 9 million cryptocurrency card transactions occurred that month, with an average transaction volume of approximately US$86, and the scope of use continued to expand. USDC and USDT combined accounted for approximately 84% of cryptocurrency card payments in July, highlighting the dominance of dollar-backed stablecoins.
stablecoins pushed cryptocurrency card payments to $759 million in July from $306 million in the same period last year. The number of purchases of cryptocurrency payment cards that month was close to 9 million, compared with 5.2 million in the same period last year, with an average cost of approximately US$86 per transaction.
Cryptocurrency card payments reached US$759 million
According to a16z data, monthly cryptocurrency card transaction volume increased by approximately 2.5 times compared with July 2025. When Paymentscan began tracking this activity in October 2023, the transaction volume it tracked was less than US$1 million. Cryptocurrency cards allow users to consume cryptocurrency anywhere traditional card networks operate. At check-out, cryptocurrency is usually converted to local currency before the merchant receives payment. Users can use these cards without a traditional bank account. Depending on the specific project, users can deposit stablecoins into the issuer or hold them through self-custody.
Dollar stablecoins dominate
Since the beginning of 2024, the composition of Internet and stablecoins has changed significantly. At the time, Gnosis handled most card transactions, and Gnosis Pay was connected directly to the self-managed wallet. By July, Optimism accounted for about 29% of consumption, Solana and Base each accounted for about 19%, and Gnosis fell to about 2%. At the beginning of 2024, EURe accounted for approximately 88% of card transactions, mainly through Gnosis. By July, its share had dropped to about 2%.
Today, dollar-backed stablecoins account for the majority of consumption. USDC accounted for approximately 58% of card transactions, compared with approximately 48% in the same period last year;USDT reached approximately 26%, up from approximately 7% in the same period. Together, the two accounted for approximately 84% of July consumption.
Cryptocurrency card purchases are close to 9 million
Purchasing activity increases with the growth of monthly card transactions. Nearly 9 million cryptocurrency card purchases occurred in July, compared with approximately 5.2 million in the same period last year. The average purchase amount is close to $86.
According to a16z data, most currently tracked cryptocurrency card purchases are made through the Visa network. Traditional card networks still process trillions of dollars in transactions each month, while cryptocurrency card consumption is relatively small. A16z stated that stablecoin consumption through cards is part of a broader stablecoin and tokenized asset activity. The July data covered consumption related to tracked cryptocurrency payment card items.
