Stablecoin card spending hits record $1.17 billion in September

Stablecoin-linked card spending reached a record $1.17 billion as of September 30, according to Paymentscan data. Visa’s crypto head Cuy Sheffield noted that these cards are in a phase of hyper growth as issuers integrate dollar-denominated tokens with existing payment networks. Despite the record volume, the number of transactions slightly decreased to 11 million, resulting in a higher average transaction size of approximately $107. Base has emerged as the leading blockchain for this activity, accounting for $216.8 million of the on-chain volume, while RedotPay remains the largest card program by total volume.