Payments made with stablecoin-backed crypto cards exceeded $1 billion per month for first time

01.09.2026    14:09

Stablecoins are gradually evolving from a primarily exchange-based instrument into a means of everyday payments.

In July, spending via stablecoin-backed payment cards exceeded $1 billion per month for the first time, according to Paymentscan data cited by Reuters.

RedotPay forecasts that by 2028, the volume of stablecoin card payments alone could reach $50 billion annually.

The technology is spreading particularly rapidly in Latin America and Africa, where dollar-pegged stablecoins are used as a means of saving, making international transfers, and accessing the dollar-based payment system.

RedotPay already serves more than 8 million users, and its clients’ annual transaction volume exceeds $14 billion, including account deposits and card payments.

The key change is that users no longer need to view USDT or USDC as cryptocurrencies. They can hold digital dollars and pay with a regular Visa or Mastercard, while the conversion takes place within the payment infrastructure.

However, the Bank for International Settlements (BIS) remains skeptical. On August 28, BIS Governor Pablo Hernández de Cos stated that stablecoins are not yet a sufficiently reliable global payment system due to risks related to financial stability, AML, and the fragmentation of the monetary system.

 

 

 

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