Nikolas Sargeant
Spending through Visa-issued cryptocurrency cards surged 525% during 2025, signaling accelerating consumer adoption of crypto-linked payment products for everyday purchases as digital assets integrate deeper into traditional payment infrastructure.
Data from Dune Analytics shows net spending across six cryptocurrency cards issued by blockchain projects in partnership with Visa climbed from $14.6 million in January to $91.3 million by December's end. The cards are offered by crypto payments platforms GnosisPay and Cypher, alongside decentralized finance projects EtherFi, Avici Money, Exa App, and Moonwell.
Among the group, EtherFi's Visa-backed card led by a substantial margin, recording $55.4 million in total spending during the year. Cypher followed with $20.5 million in transaction volume, while the remaining card programs accounted for smaller but steadily rising spending levels throughout 2025.
Market observers characterize the figures as evidence of shifting behavior patterns among cryptocurrency users. Polygon researcher Alex Obchakevich stated in an X post that the data highlights both rapid user adoption and the strategic role cryptocurrencies and stablecoins are playing within Visa's broader payments ecosystem. Rising spending volumes suggest digital assets are transitioning from experimental use cases toward routine financial applications, Obchakevich noted.
The trend could accelerate further during 2026 as Visa expands its stablecoin infrastructure initiatives. The payments giant now supports stablecoins across four blockchain networks and has intensified partnerships and technical development aimed at improving access for both retail consumers 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 assessment that blockchain-based settlement mechanisms and programmable money are becoming increasingly relevant to global payment systems.
As crypto cards gain traction, the dramatic spending increase suggests that linking digital assets to familiar payment rails may represent one of the most direct paths to mainstream cryptocurrency usage. The approach allows users to spend cryptocurrency holdings at millions of merchants worldwide without requiring those merchants to modify their payment acceptance infrastructure.
Stablecoin usage surged across the broader market during the past year, with transaction volumes reaching record levels. Data from payments platform Bridge indicates total stablecoin transaction volume has exceeded $2.5 trillion, while overall supply has climbed to all-time highs driven largely by continued expansion of Tether's USDT.
Chainalysis data underscores the activity scale. Between June 2024 and June 2025, USDT processed more than $1 trillion in transactions monthly, peaking at $1.14 trillion in January 2025. USDC also demonstrated heavy usage, ranging from $1.24 trillion to $3.29 trillion in monthly transaction volume, with notable spikes during late 2024. Together, the figures highlight USDT and USDC's central roles in global cryptocurrency infrastructure.
Despite that dominance, the stablecoin market remains fragmented and evolving. Chainalysis notes rapid growth among smaller tokens including EURC, PYUSD, and DAI, pointing to increasingly specialized use cases. EURC's monthly transaction volume jumped from approximately $47 million to over $7.5 billion within a year, while PYUSD also expanded steadily. The trend suggests stablecoins are diverging by geographic region and functional application, even as overall adoption continues accelerating.
