Crypto Card Monthly Volume Tops $1 Billion for First Time

Monthly transaction volume on crypto-linked payment cards exceeded $1 billion for the first time in July, according to a report from Gate Research. The milestone marks a sharp acceleration in the use of cryptocurrencies and stablecoins for everyday payments.

Since March 2023, tracked crypto card projects have processed more than $10 billion in cumulative transactions. July alone recorded over 10.5 million transactions worth approximately $1.038 billion. In the first seven months of 2026, volume reached roughly $5.48 billion, already well above the $3.8 billion generated throughout all of 2025.

RedotPay remains the dominant provider, accounting for about 56% of tracked volume with more than $6 billion in cumulative transactions. Ether.fi and KAST have generated approximately $754 million and $684 million, respectively. Other platforms, including MetaMask and Gnosis Pay, are developing self-custodial and smart contract-based payment systems.

Gate Research said several crypto card models are emerging. Traditional prepaid cards require users to convert crypto into fiat before purchases, while instant-spending products automatically convert digital assets at checkout. Other approaches include stablecoin settlement, smart contract debits and crypto-backed borrowing.

Gate Card combines prepaid and instant-spending models. Its instant option lets customers fund purchases using spot accounts, flexible Simple Earn balances or Gate Pay, with conversion handled automatically. The integrated structure reduces the need to manually move assets between trading, yield and payment accounts. Gate Card also offers a six-tier cashback program, with eligible purchases earning rewards of up to 8%, subject to tier requirements, spending limits and exclusions.

Despite rapid growth, Gate Research identified risks including dependence on banking and card-issuing partners, custody and smart contract vulnerabilities, stablecoin exposure, varying regional regulations and questions surrounding the sustainability of generous cashback programs. The report noted that rising volumes indicate crypto cards are increasingly bridging digital assets and traditional payment networks, though the durability of the incentive structures that have driven adoption remains an open question.