Crypto Payment Cards recorded their strongest month in August as spending, transaction counts, and active users reached record levels.
Total stablecoin card volume rose to $1.076 billion across 10,671,980 transactions and 283,653 active addresses.
August was the second straight month crypto card spending exceeded $1 billion. Active addresses increased from 261,000 in July, while average spending per transaction reached roughly $100.80.
RedotPay Leads Stablecoin Card Activity
RedotPay remained the largest provider in the tracked market, processing about $390.1 million during August. That represented roughly 36% of sector volume, while its transaction count exceeded 6.34 million and accounted for more than half of tracked payments.
Its average purchase value was around $61.50, below the market average. The spending pattern indicated that RedotPay users were making smaller purchases more frequently. EtherFi and KAST ranked second and third by monthly transaction volume.
Growth was visible across emerging markets. Singapore-based StraitsX, which supports Visa card programs for crypto companies, reported a 600% increase in gross transaction value across lower-GDP regions between early 2025 and 2026.
Binance said average users of its Brazil card increased 53% from the launch quarter to the second quarter of 2026. Average spending volume rose 80%, with ride-hailing, food delivery, groceries, restaurants, and online subscriptions among the leading uses.
Kraken reported that weekly Krak Card payments more than doubled over the past year to 8.3 per user. Retail and store purchases represented 59.3% of spending.
Stablecoin Card Infrastructure Expands
Mastercard enabled stablecoin settlement on June 3 for USDC, Paxos-issued tokens, RLUSD, and SoFiUSD across eight blockchains. Visa said more than 160 stablecoin card programs are either live or under development.
Providers including Rain, Reap, and Stripe’s Bridge have also reduced float and licensing costs that previously limited smaller onchain card purchases.
Despite the growth, market concentration remains high. Three programs account for 55.6% of total volume. Paymentscan also relies on self-reported RedotPay figures rather than fully onchain observations.
RedotPay is facing an approximately $472.8 million claim in Hong Kong from Binance affiliates over alleged user diversion. Its planned $1 billion US listing now appears unlikely before 2027.
Card Spending Rises as Stablecoin Supply Falls
Stablecoin supply has declined 3.6% from its May peak to about $304 billion, based on DefiLlama data. Card activity still reached a record level during the same period.
August volume annualizes to about $12.9 billion, roughly 0.06% of the traditional card market, which exceeds $20 trillion.
The divergence marks a change from the previous three years, when onchain payment activity broadly moved alongside stablecoin supply. Spending, transactions, and active users now reached highs even as the overall stablecoin pool contracted.
