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Stablecoin payment cards recorded their strongest month in August as spending reached $1.076 billion, marking a second straight month above $1 billion. Transactions climbed to about 10.67 million, while active addresses rose above 283,000 from 261,000 in July. Average spending per transaction stood near $100.80.
RedotPay processed about $390.1 million during August, giving it roughly 36% of total tracked volume. The company also handled more than 6.34 million transactions, equal to 54% of all recorded card activity.
That gap pushed RedotPay’s average purchase to about $61.50, well below the sector average. The smaller ticket size aligns with routine purchases rather than occasional large transactions. EtherFi and KAST ranked second and third by monthly volume. Together, the leading programs helped push stablecoin card activity to new highs across spending, transactions and users.
StraitsX reported 600% growth in gross transaction value across lower-GDP regions between early 2025 and 2026. The Singapore-based company sponsors Visa card programs for other crypto businesses. Binance also reported stronger use of its Brazil card. Average users rose 53% from the launch quarter to the second quarter of 2026, while average volume increased 80%.
Ride-hailing, food delivery, groceries, restaurants, and online subscriptions led to Binance card usage. Kraken said weekly Krak Card payments more than doubled over the past year to 8.3 per user. Retail and store purchases represented 59.3% of Kraken spending. Meanwhile, Mastercard enabled stablecoin settlement on June 3 across eight chains for USDC, Paxos-issued tokens, RLUSD, and SoFiUSD.
Visa now counts more than 160 stablecoin card programs, either live or under development. Rain, Reap, and Stripe’s Bridge have also reduced float and licensing costs for smaller on-chain purchases.
Also Read: Stablecoins Explained: How They Work, Benefits, Risks, Use Cases
Three programs account for 55.6% of all volume, leaving much of the sector concentrated among a small group. Can stablecoin card growth continue if that concentration remains unchanged?
Paymentscan’s RedotPay figures come directly from the issuer rather than on-chain observation. RedotPay also faces a roughly $472.8 million Hong Kong claim from Binance affiliates over alleged user diversion.
Its planned $1 billion US listing now appears unlikely before 2027. At the same time, August’s $1.076 billion monthly volume annualizes to roughly $12.9 billion. That figure equals about 0.06% of the traditional card market, which exceeds $20 trillion. Stablecoin cards therefore remain small compared with global payment networks.
Still, spending moved in the opposite direction from stablecoin supply during the period. DefiLlama data puts supply near $304 billion, down 3.6% from its May peak.
For much of the past three years, on-chain payment activity moved with stablecoin supply. August broke that pattern as spending, transactions, and users reached records while total supply declined. The record occurred while the wider stablecoin pool contracted. The data therefore shows rising card activity without a matching increase in the overall supply of stablecoins.
