Crypto Card Volume Nears $10 Billion After Massive Annual Growth

Crypto-linked payment cards processed nearly $10 billion in payments over the past year, a more than fourfold increase from the same period in 2025, data compiled by AlphaScala show.

The cumulative volume across monitored platforms stood at $9.898 billion as of June 17. That compares with $2.340 billion for the equivalent stretch a year earlier. A monthly record of $866 million in transactions was set in the most recent full month.

The numbers show that holders are spending Bitcoin and stablecoins directly at merchants, rather than converting to fiat first. Visa and Mastercard have partnered with crypto firms to issue cards that handle the conversion at the point of sale.

The monthly record came alongside a broader expansion in merchant acceptance and user base growth over the past two years. The $866 million figure implies a current annualized run rate of roughly $10.4 billion if sustained.

Visa and Mastercard have launched crypto card programs in Asia and Europe. Block's Cash App and Coinbase's debit card are among the largest. Banks that resist integration risk losing share of daily spending as users shift to cards that pay them in digital assets.

Stablecoins play a central role in many of these cards. Users load USDC or USDT, and the card converts to fiat when swiped. That process is faster than selling tokens on an exchange and waiting for a bank transfer.

Regulators have taken a closer look at the stablecoin-based card model. U.S. Regulators Demand Stablecoin Issuers Verify All Customers The outcome of that scrutiny could shape how these cards operate.

North America and Europe account for the bulk of volume, according to industry estimates. Asia-Pacific has grown quickly, driven by markets like Singapore and South Korea. The geographic spread reflects different regulatory regimes. In the U.S., exchange-linked cards are common, while prepaid cards from fintech firms dominate in Asia. Europe has seen a wave of cards from neobanks.

The cards come in several varieties. The prepaid model is most common among newcomers. Exchange-linked cards appeal to active traders.

Coinbase's card allows spending from any asset with real-time conversion, while Block's Cash App card lets users spend from a Bitcoin balance. Many cards also offer rewards in digital assets, such as 1% to 5% back in Bitcoin or the issuer's own token. That creates a loop: users earn more crypto from spending, which they can then spend again, further driving volume.

Players such as Coinbase and Block have reported growing card user bases. Traditional fintechs have begun integrating crypto spending into their own products.

For perspective, daily spot crypto trading volume across all exchanges averaged about $50 billion in June. Card volumes are a fraction of that, under 0.1%. Card transactions are purchases of goods and services, not speculative trades. That makes them a different adoption metric.

The data compiled by AlphaScala tracks adoption beyond trading. crypto market analysis The sector sits $102 million from the $10 billion milestone.