Summary
- Monthly crypto card payment volume reached about $600 million in March, more than tripling from a year earlier.
- USDT remains the main payment method, but USDC is gaining share in Western markets, gradually reducing USDT’s share.
- USDC’s growth is being driven by clearer regulation and rising institutional demand, while changes in stablecoin market share may become a key indicator of regional user composition and demand trends.
Forecast Trend Report by Period
The market for crypto-linked card payments is growing rapidly, reshaping competition among stablecoins.
The Block reported on April 8 that monthly crypto card payment volume reached about $600 million in March, more than tripling from $187 million a year earlier.
Crypto cards allow users to spend digital assets directly on purchases, eliminating the traditional off-ramp process and making payments more convenient.
Tether’s dollar-pegged stablecoin USDT remains the dominant payment method. It continues to hold a strong share in emerging markets, particularly in Southeast Asia, Latin America and Africa.
Still, the market-share mix is shifting. Circle’s dollar-pegged stablecoin USDC is expanding its share in Western markets, while USDT’s share is gradually declining.
USDC’s growth has been driven by clearer regulation and rising institutional demand. That has prompted views that the crypto card user base is expanding beyond its traditional concentration in emerging markets to a broader global base.
Market participants see future shifts in stablecoin market share as a key indicator of regional user composition and demand trends.
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
