Crypto Journalist
Amin Ayan
Crypto Journalist
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Spending through Visa-issued crypto cards surged in 2025, with total net transaction volume rising 525% over the year, signaling growing consumer use of crypto-linked payment products for everyday purchases.
Key Takeaways:
- Visa-issued crypto card spending jumped 525% in 2025, pointing to rising everyday use of crypto-linked payments.
- EtherFi led all Visa-backed crypto cards with $55.4 million in annual spending, well ahead of competitors.
- Visa’s expanding stablecoin infrastructure signals deeper integration of crypto into mainstream payments.
Data from Dune Analytics shows that net spend across six crypto cards issued by blockchain projects in partnership with Visa climbed from $14.6 million in January to $91.3 million by the end of December.
The cards are offered by crypto payments platforms GnosisPay and Cypher, alongside decentralized finance projects EtherFi, Avici Money, Exa App and Moonwell.
EtherFi Tops Visa-Issued Crypto Cards With $55M in Spend
Among the group, EtherFi’s Visa-backed card led by a wide margin, recording $55.4 million in total spending during the year.
Cypher followed with $20.5 million, while the remaining cards accounted for smaller but steadily rising volumes.
Market observers say the figures point to a shift in how crypto users interact with digital assets. In a post on X, Polygon researcher Alex Obchakevich said the data highlights both rapid user adoption and the strategic role crypto and stablecoins are playing within Visa’s broader payments ecosystem.
He added that rising spend volumes suggest crypto is moving beyond experimentation toward routine financial use.
The trend could accelerate further in 2026 as Visa expands its stablecoin efforts.
The payments giant now supports stablecoins across four blockchains and has stepped up partnerships and infrastructure work aimed at improving access for both retail and institutional clients.
In mid-December, Visa launched a dedicated stablecoin advisory team focused on helping banks, merchants and fintech firms deploy and manage stablecoin-based products.
The initiative underscores Visa’s view that blockchain-based settlement and programmable money are becoming increasingly relevant to global payments.
As crypto cards gain traction, the sharp rise in spending suggests that linking digital assets to familiar payment rails may be one of the clearest paths to mainstream usage.
Stablecoin Volumes Hit Record Highs as USDT and USDC Cement Dominance
Stablecoin usage surged over the past year, with transaction volumes reaching record levels.
Data from payments platform Bridge shows total stablecoin transaction volume has surpassed $2.5 trillion, while overall supply has climbed to an all-time high, driven largely by the continued expansion of Tether’s USDT.
Chainalysis data underscores the scale of activity. Between June 2024 and June 2025, USDT processed more than $1 trillion in transactions each month, peaking at $1.14 trillion in January 2025.
USDC also saw heavy usage, ranging from $1.24 trillion to $3.29 trillion monthly, with notable spikes late last year. Together, the figures highlight the central role of USDT and USDC in global crypto infrastructure.
Despite that dominance, the stablecoin market remains fragmented and evolving. Chainalysis notes rapid growth among smaller tokens such as EURC, PYUSD and DAI, pointing to more specialized use cases.
EURC’s monthly volume jumped from about $47 million to over $7.5 billion in a year, while PYUSD also expanded steadily. Analysts say the trend suggests stablecoins are diverging by geography and function, even as overall adoption continues to accelerate.
