Crypto cards have quietly evolved from a niche novelty into a financial powerhouse, processing over $1.5 billion in monthly volume by late 2025 an annualized run rate of $18 billion, according to a new report by blockchain analytics firm Artemis.
This surge underscores a pivotal shift in the digital asset economy: stablecoins are moving beyond trading and DeFi collateral to become a “medium of exchange” for everyday transactions.
From Niche to Mainstream
Data from Artemis reveals that crypto card spending has skyrocketed from just ~$100 million per month in early 2023 to over $1.5 billion today. This 1,400% growth places card spending nearly on par with direct peer-to-peer (P2P) stablecoin transfers, which stand at approximately $19 billion monthly.
Visa continues to dominate the sector, powering over 90% of the crypto card transactions tracked. A separate analysis of Visa-partnered projects including GnosisPay, Ether.fi, and Cypher showed a massive 525% increase in net spend throughout 2025.
According to Dune Analytics data, monthly net spend for these major programs jumped from $14.6 million in January 2025 to over $91 million by December.
The “Medium of Exchange” Shift
The data highlights a structural change in user behavior. With the global stablecoin market cap topping $300 billion, users are increasingly leveraging off-ramps that integrate seamlessly with traditional payment rails.
Source:https://phemex.com/news/article/crypto-cards-monthly-volume-surges-to-over-15-billion-53745