Crypto card spending jumps 2.5x to $759m in July

Crypto payment card spending has jumped 2.5 times from a year earlier to reach $759 million in July, supported by nearly 9 million purchases settled mainly through dollar-backed stablecoins. Summary July spending rose from $306 million a year earlier to $759 million. Cardholders completed nearly 9 million purchases with an average value of about $86. USDC and USDT accounted for a combined 84% of tracked spending. Optimism led blockchain settlement with 29%, followed by Solana and Base at 19% each. A16z crypto reported the figures using data from Paymentscan, which tracks payment activity linked to crypto card programs across several blockchains. Crypto card spending reached $759 million in July | Source: a16z crypto/Paymentscan The monthly total has climbed from less than $1 million in October 2023, when Paymentscan began tracking the market, to more than three-quarters of a billion dollars. Card purchase counts have risen alongside spending, reaching nearly 9 million in July from about 5.2 million during the same month last year. According to the report, the two measures produced an average purchase value of roughly $86. Paymentscan’s data covers on-chain activity that it can connect to individual card programs, although the dataset handles its largest program differently. RedotPay, which generated the most volume among tracked issuers, self-reported its spending rather than having the transactions directly observed on-chain. A16z identified the distinction in its methodology, making RedotPay’s numbers dependent on information supplied by the company. You might also like: Nexo launches crypto card in Argentina as Latin America push grows Crypto card spending has moved toward dollar stablecoins USDC handled about 58% of crypto card spending in July, while USDT accounted for another 26%, according to Paymentscan. One year earlier, their respective shares stood at approximately 48% and 7%, meaning USDT recorded the larger increase over the period. Together, the two dollar-backed tokens processed 84% of the card volume tracked in July. The figures correspond with separate Visa data showing USDC has taken a large share of payment-related stablecoin activity. In June, USDC processed about $1.21 trillion of the $1.79 trillion in adjusted stablecoin transfers recorded by Visa’s on-chain analytics dashboard, while USDT handled approximately $576 billion. As crypto.news previously reported, adjusted transfer volume rose 63% from May and 125% from June 2025, even as the stablecoin market’s total value declined by $7.7 billion. Euro-backed tokens have lost their early lead in the card segment. A16z said EURe settled close to 88% of card spending in early 2024, much of it through Gnosis, but its share had fallen to around 2% by July. The change in token use occurred as card issuers added support for more blockchains and dollar-backed assets.