Crypto Card Transactions Surge, Stablecoin On-Chain Activity Reaches New Heights
Recent data from Artemis reveals a significant shift in stablecoin usage patterns: monthly transaction volumes for crypto cards have surpassed $15 billion, outpacing peer-to-peer (P2P) stablecoin transfers, which currently stand at around $11 billion. This indicates that crypto cards are becoming a key driver of on-chain stablecoin activity.
Visa Dominates the Market, Others Show Gradual Growth
Visa has emerged as the market leader, accounting for more than 80% of stablecoin card transactions, according to the report. While Mastercard holds a smaller share, its growth trajectory is promising. Regional card initiatives, however, continue to play a marginal role in this space.
Why Crypto Cards Are Central to Stablecoin Circulation
- Convenience: Crypto cards enable users to spend digital assets directly, significantly enhancing the utility of stablecoins in everyday transactions.
- Security: Compared to P2P transfers, crypto card transactions often undergo stricter compliance checks, reducing potential risks.
- Merchant Adoption: More merchants globally are accepting crypto card payments, accelerating their mainstream adoption.
This trend not only reflects the maturation of crypto payment methods but also signals a future where stablecoins and traditional financial instruments become increasingly integrated.