Crypto cards turn the use of stablecoins into everyday payments, with the market reaching $18 billion annually

A modest revolution is taking place in the world of digital payments. Crypto cards — payment tools that allow users to spend stablecoins and other cryptocurrencies at regular stores — have become one of the most rapidly developing segments of financial technology. According to Artemis research, the volume of transactions with crypto cards has now approached the scale of direct stablecoin transfers between users, indicating a fundamental shift in how people use digital assets for transactions.

Dramatic growth over three years: from hundreds of millions to one and a half billion

The development dynamics of the crypto card market are astonishing. If in early 2023, monthly expenses with crypto cards were approximately $100 million, by the end of 2025, this figure had grown to $1.5 billion. Such growth corresponds to an average annual increase rate of 106 percent.

Currently, the annual transaction volume exceeds $18 billion. For comparison: the volume of direct stablecoin transfers between users amounts to $19 billion annually, but over the same period, it has only increased by 5 percent. This means that crypto cards are growing more than twenty times faster than traditional peer-to-peer stablecoin transfers.

Technological advantage: integration instead of revolution

Despite increasing interest from merchants in directly accepting stablecoins, crypto cards maintain a dominant position. The reason is simple: they require minimal changes to existing infrastructure. Payment cards operate through established networks like Visa and Mastercard, which eliminates the need for new integrations with merchant systems.

Payments directly based on stablecoins are gaining popularity but are still in early development stages. According to the report, the transaction volume on Visa cards linked to stablecoins reached an annual total of $3.5 billion in Q4 2025. This accounts for approximately 19 percent of the total cryptocurrency card transaction volume.

Stablecoin battle: USDT dominates, but exceptions have emerged

The global landscape of stablecoin usage presents an interesting picture. USDT leads in transaction volume across all markets without exception. However, there are two notable exceptions rewriting global trends: India and Argentina.

In India, the share of USDC in crypto card payments is 47.4 percent, while in Argentina it reaches 46.6 percent. These two countries remain the only markets worldwide where USDC is approaching parity with USDT.

Interestingly, India also demonstrates a more significant breakthrough in the crypto segment. Over the 12 months ending June 2025, the inflow of crypto funds into India amounted to $338 billion, representing a 4800 percent growth over five years. This has enabled India to become the largest crypto market in the Asia-Pacific region.

Visa consolidates power: 90% of the crypto card payment market

The crypto card ecosystem is built on principles similar to traditional payment networks. Card issuers, program managers, and network operators follow a well-known model where Visa and Mastercard serve as the backbone of the system.

Visa has captured an overwhelming majority of the market, controlling over 90 percent of crypto card transaction volume. This result was achieved through early partnerships between the payment network and crypto-native infrastructure providers, allowing Visa to establish a foothold in the market long before competitors.

What this means for the future of payments

Crypto cards demonstrate how traditional financial infrastructure can harmoniously adapt to new technologies. Instead of a complete overhaul of the payment system, the market has chosen the path of integration, enabling users to easily convert digital assets into fiat at the point of sale. This reduces barriers to adoption and allows crypto payments to grow exponentially.