Crypto card usage reaches $18 billion per year as stablecoins become more common for daily transactions

The Rapid Rise of Crypto Payment Cards

Crypto payment cards, which enable users to utilize stablecoins and other cryptocurrencies for purchases at conventional retailers, have swiftly emerged as a major force in the digital payments landscape. According to recent findings from Artemis, transaction volumes for these cards are now nearing the levels seen in peer-to-peer stablecoin transfers.

Impressive Growth in Transaction Volume

The report highlights a dramatic surge in monthly crypto card spending, climbing from around $100 million at the start of 2023 to over $1.5 billion by the end of 2025. This represents a remarkable compound annual growth rate of 106%. On an annualized scale, the market has surpassed $18 billion, closely trailing the $19 billion in peer-to-peer stablecoin transfers, which saw a modest 5% growth during the same timeframe.

Cards Remain the Preferred Method for Stablecoin Spending

While there is increasing momentum for merchants to accept stablecoins directly, Artemis notes that payment cards continue to be the primary method for spending stablecoins. This is largely because cards do not require merchants to adopt new payment systems or integrations.

Stablecoin-Linked Settlement Still Emerging

Although settlement using stablecoins is gaining traction, it remains in its early stages. The report points out that Visa’s stablecoin-enabled card transactions reached an annualized rate of $3.5 billion in the fourth quarter of 2025, accounting for roughly 19% of the total crypto card market.

Regional Trends in Stablecoin Usage

The research reveals that USDT overwhelmingly leads stablecoin transaction volumes in most regions. However, India and Argentina are notable exceptions, with USDC making up nearly half of stablecoin activity—47.4% in India and 46.6% in Argentina. Additionally, India has emerged as the largest crypto market in the Asia-Pacific region by inflows, with $338 billion in value recorded in the year ending June 2025, marking an extraordinary 4,800% increase over five years.

Traditional Payment Networks Power Crypto Cards

Artemis observes that the infrastructure supporting crypto cards is largely built on established payment networks like Visa and Mastercard, along with their associated issuers and program managers. The report also notes that Visa has secured over 90% of on-chain card transaction volume, thanks to its early collaborations with crypto-focused infrastructure partners.