Stablecoin Card Spending Hits Record $189 Million in Mid-September
Weekly spending on stablecoin-linked Visa cards reached a record $189 million during the week of September 14, as monthly volumes continue to climb past $1 billion.
Stablecoin card spending reached a record $189 million during the week of September 14. This metric has continued to trend upward throughout 2026, with weekly volumes frequently exceeding $200 million.
Data shows that weekly spending reached $281.7 million between August 14 and August 20, followed by $288 million the next week. Monthly totals for July and August surpassed $1 billion, reaching approximately $1.04 billion and $1.116 billion respectively.
USDC and USDT dominated transaction volume in July, accounting for 84% of the total. USDC represented 58% of that activity, while USDT made up 26%. The average transaction size is approximately $86.
Visa processes the majority of these transactions through a network of over 130 card programs. Monthly activity now involves between 9 million and 10 million transactions.
RedotPay, EtherFi, and KAST are the primary drivers of this volume, accounting for 77% of tracked card activity in July. RedotPay led with $395 million in volume, followed by EtherFi at $100 million and KAST at $90 million.
RedotPay has focused its efforts on Asia and emerging markets. EtherFi, which operates a liquid restaking protocol on Ethereum, has moved into payments to provide users with direct access to their holdings. KAST maintains a focus on European and Latin American markets.
The growth in spending is attributed to improved on-chain settlement across networks such as Solana, Arbitrum, and Base. These improvements have reduced the costs and friction associated with converting stablecoins into balances for card purchases.
