Crypto Card Spending Surpasses $759 Million in July
Spending on cryptocurrency-focused payment cards has more than doubled year-over-year to reach $759 million U.S. dollars in July, according to Andreessen Horowitz. This growth is attributed to nearly nine million purchases processed through dollar-backed stablecoins like USDC and Bitcoin. The monthly spending volume increased from under $1 million in October 2023 to over three-quarters of a billion today. Card purchase counts also rose significantly, reaching almost nine million transactions compared to five-point-two million during the same period last year. These cards allow users to spend digital assets at standard merchants by converting crypto into local currency instantly at checkout. Major issuers include Coinbase Global and Gemini.
Topics: consumer adoption cryptocurrency payments stablecoins