Crypto payment cards have processed more than $10 billion in cumulative transactions since March 2023, with monthly spending crossing $1 billion for the first time in July 2026, according to Paymentscan. The figures show crypto-linked cards moving beyond a niche off-ramp for digital assets and into a growing channel for routine consumer and business payments.
Paymentscan recorded more than 10.5 million card transactions in July, alongside more than 260,000 active addresses. Total addresses linked to tracked card activity exceeded 850,000. July’s $1.038 billion in volume implies an average transaction of roughly $100, suggesting the activity includes regular purchases rather than being driven solely by occasional large transfers.
The expansion has accelerated sharply over the past two years. Annual volume was about $828 million in 2024 before climbing to $3.802 billion in 2025, a year-on-year increase of approximately 359%, Paymentscan data shows. During the first seven months of 2026, tracked cards processed about $5.482 billion, already surpassing the entire 2025 total.
July’s volume was about 206% higher than in July 2025. That pace follows a steady rise in monthly card use: Paymentscan tracked roughly $9.27 million in volume in December 2023, $153.4 million in December 2024, and $521.2 million in December 2025 before the July 2026 milestone.
Transaction growth has outpaced early adoption
Card transaction counts have also risen rapidly. Paymentscan recorded about 540,000 monthly transactions in January 2024, followed by 2.78 million in January 2025 and 7.41 million in January 2026. The total exceeded 10.51 million in July.
The numbers point to a change in spending patterns. Crypto cards were initially associated largely with converting holdings for consumer purchases, but Paymentscan’s spending categories include hotels, airfare, electronics, software subscriptions, advertising expenses and cross-border bills. Those categories place the products closer to general payment tools for people and businesses already operating with stablecoins or on-chain balances.
The payment process differs by provider. Some cards require users to preload a fiat-denominated balance before spending. Others automatically convert crypto or stablecoins at the point of purchase. A third model uses stablecoins for settlement behind the scenes, while more complex products can debit smart-contract balances or let customers borrow against deposited collateral.
Those distinctions affect the user experience in ways that do not always appear in headline volume figures. Conversion charges, foreign-exchange fees, settlement timing and the treatment of refunds can determine whether a card is economical for small purchases or better suited to larger spending.
RedotPay holds more than half of tracked volume
The market remains heavily concentrated among a handful of programs. RedotPay processed more than $6 billion in cumulative transactions, accounting for about 56% of the volume tracked by Paymentscan. Ether.fi Cash recorded roughly $754 million, while KAST reached about $684 million.
Together, the three products accounted for close to 69% of recorded cumulative volume. That concentration means the sector’s aggregate growth is closely tied to the distribution reach, issuing partnerships and compliance capacity of a small number of providers.
RedotPay’s cumulative transaction count exceeded 100 million, according to Paymentscan. Its monthly volume rose from about $139.8 million in December 2024 to $282.2 million in December 2025, then reached $395.1 million in July 2026. The program handled about 6.205 million transactions during that month alone.
Ether.fi Cash showed one of the fastest expansion rates among the larger products. Its monthly volume increased from about $10.82 million in July 2025 to $100.3 million in July 2026, while its active addresses exceeded 40,000 in July, Paymentscan data shows. The product supports stablecoins and Ethereum-based assets, including USDC, USDT, EURC, ETH and wrapped or yield-bearing variants.
KAST’s tracked monthly volume rose from about $2.18 million in July 2025 to $89.6 million a year later. Its growth reflects demand for products that combine stablecoin balances with card-network access, particularly where users face expensive foreign-exchange conversions or limited access to dollar banking.
Fees and reversals remain practical constraints
Fast growth does not remove the operational frictions of card payments. A crypto-funded transaction may involve a conversion fee, a foreign-exchange charge, a network fee or a provider-specific top-up cost. The final cost can vary depending on whether the merchant charges in the card’s base currency and whether the user holds a pre-converted balance.
Refunds create another complication. Card-network reversals can arrive after the original crypto assets have been sold or stablecoins have settled into the provider’s payment system. Some providers do not return the conversion fee charged on the original payment when a merchant processes a refund.
Merchant pre-authorizations can also temporarily lock more value than the final purchase amount. Hotels, rental companies and some fuel merchants commonly use such holds, creating an issue for customers who fund cards close to their expected spending limit.
Borrow-based cards introduce a separate risk. They can preserve exposure to deposited crypto by allowing users to spend against collateral, but unpaid balances accrue interest and falling collateral values can raise liquidation risks. Stablecoin-funded products carry their own set of concerns, including issuer controls, address freezes and the possibility that a token trades away from its intended peg.
Regional structure shapes the products on offer
Paymentscan identified more than 250 projects and companies connected to the sector, although it described that count as incomplete. The market includes exchange-linked cards, wallet and on-chain finance products, stablecoin payment fintechs, card issuers and processing providers.
Regional payment systems are influencing where different models gain traction. Europe’s SEPA transfer infrastructure and euro settlement options support card products connected to euro balances. In Latin America, dollar stablecoins are often used for savings and international online payments, giving card programs a way to spend those balances through established merchant networks.
The United States presents a different setup, with more established debit-card and mobile-wallet systems alongside tighter onboarding and compliance requirements. Gate US launched a domestic prepaid Visa debit card in July 2026, according to the program’s disclosures. The card uses USDC to fund spending, converting it into dollars when a purchase is made, while Lead Bank serves as issuer.
The sector’s next test will be whether providers can sustain transaction growth while reducing the cost and complexity surrounding conversion, refunds and cross-border spending. Paymentscan’s July data shows demand has already moved well beyond experimental use, but the providers that retain users will likely be those that make a crypto balance behave most predictably at the checkout counter.
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