Visa crypto card net spending soared from $14.6 million in 2025 to $91.3 million, marking an annual growth rate of 525%. Among these, EtherFi’s Visa credit card dominated with $55.4 million in total annual spending.
The global stablecoin market more than doubled over the past two years, growing from $12.5 billion to approximately $25.5 billion. This rapid expansion is directly reflected in the payments sector: users can now spend stablecoin balances such as USDC and USDT for everyday purchases at any merchant worldwide that accepts Visa.
Behind the Numbers: The Surge of Crypto Payments
According to the latest data from Dune Analytics, net spending on Visa-issued crypto cards jumped from $14.6 million in January 2025 to $91.3 million by the end of December. This more-than-fivefold increase is not just a statistical leap—it marks the transformation of crypto payments from a concept to a practical reality. Card issuers include crypto payment platforms like GnosisPay and Cypher, as well as DeFi projects such as EtherFi, Avici Money, Exa App, and Moonwell. Notably, EtherFi’s Visa credit card accounted for over 60% of annual spending, totaling $55.4 million.
This market expansion is no coincidence. In Singapore, a crypto-friendly financial hub, 26% of residents held digital assets in 2024, and more than half had already tried making payments with cryptocurrency.
Stablecoins: The Key Catalyst for Crypto Payment Adoption
Stablecoins are at the heart of crypto card adoption. Dollar-pegged stablecoins like USDT and USDC dramatically reduce price volatility risk during transactions, shifting crypto cards from investment vehicles to practical payment tools. This trend has drawn strong interest from payment giants. In April 2025, Visa partnered with stablecoin orchestration platform Bridge to launch a new card product. Through Bridge’s unified API integration, developers can offer Visa cards linked to stablecoins for users across multiple countries.
The initial target markets for this partnership focus on Latin America, including Argentina, Colombia, Ecuador, Mexico, Peru, and Chile. This strategic rollout aims to meet the region’s growing demand for stablecoins as both a store of value and a payment method.
Emerging Models: The Rise of Self-Custody Crypto Banking
Among the many crypto card projects, Solana-based Avici New Bank stands out with its unique self-custody model. Since its launch in October 2025, Avici’s Visa card spending has exceeded $7 million—an impressive feat for a new entrant.
Unlike most crypto cards, Avici employs a self-custody smart wallet, allowing users to retain control of their assets rather than storing them on centralized exchanges or traditional banks. Its smart contract wallet is linked to the Visa card, enabling users to top up with crypto and pay anywhere Visa is accepted, all while maintaining ownership of their funds.
Avici’s token distribution model is equally distinctive—the team holds 0% of the initial token supply. Of the 12.9 million AVICI tokens, 77.5% are allocated directly to the public, and 22.5% are reserved for liquidity provision. This structure aims to eliminate early insider selling pressure and promote fairer distribution.
Global Expansion: Strategic Moves from Latin America to Asia
Visa’s crypto card projects with various partners reflect a strategy of regional expansion. In Latin America, Bridge-powered stablecoin Visa cards are already live; in Asia, DCS Card Centre has teamed up with Visa to launch the DeCard micro prepaid card, targeting Singapore and neighboring markets.
Regulatory frameworks in different regions also shape product design. Under the supervision of the Monetary Authority of Singapore (MAS), DeCard enables compliant conversion of crypto assets to fiat through MAS-licensed digital payment token providers, ensuring adherence to local regulations.
The upgraded DeCard Luminaries targets premium users, offering highly competitive FX rates and up to 10% cash back (capped at $200 per month) as exclusive benefits. This tiered product strategy signals that the crypto card market is evolving from single-function solutions to diversified services.
Real-World Challenges: Multiple Barriers Facing Crypto Cards
Despite rapid growth, crypto cards still face significant challenges. Taxation is among the most complex—spending cryptocurrency is a taxable event in most jurisdictions. This means that even buying a cup of coffee with a crypto card could trigger tax liability if the crypto used has appreciated in value.
Security is another major concern. While self-custody solutions like Avici emphasize user control, they also transfer all smart contract risks and private key management responsibilities to the user. For those unfamiliar with blockchain technology, this can be a significant barrier to adoption.
Centralization remains controversial as well. Critics point out that crypto cards are ultimately controlled by traditional banks and payment processors, requiring users to complete KYC and comply with regulatory oversight—contradicting the core ethos of crypto’s decentralization and permissionless access.
Future Trends: From Consumer Payments to Enterprise Adoption
Currently, crypto card usage is concentrated in everyday consumer payments, but enterprise applications may be the next growth frontier. Businesses are exploring on-chain payment and collection management, seamless conversion between crypto and fiat, on-chain treasury operations, and yield generation from idle balances. Some projects are already targeting the enterprise market. Avici recently launched corporate card features, enabling businesses to register and issue cards for team expenses, marketing budgets, and more. This expansion highlights the potential for crypto cards to evolve from personal spending tools into foundational enterprise financial infrastructure.
In the long run, true crypto payments may bypass the "card" intermediary altogether. Direct stablecoin payment integrations—like Trip.com’s model, which lets users spend crypto straight from their wallets—could represent the ultimate form aligned with crypto’s core principles.
Market Connections: Related Trends on Gate Platform
As crypto card usage grows, the performance of related digital assets on trading platforms is also worth watching. Take AVICI, for example—since its public on-chain token sale via MetaDAO in October 2025, its price has experienced significant volatility. According to Gate market data, as of January 8, 2026, AVICI token trading activity correlates with crypto card adoption rates. It’s important to note that price fluctuations are influenced by multiple factors, including overall market sentiment, project development stages, and changes in adoption.
Notably, market valuation of crypto card projects is shifting from speculative hype to practical metrics. Data points like user growth, card adoption rates, and on-chain activity are becoming key indicators for investors, signaling the industry’s transition from speculation to utility-driven value.
In Singapore, over half of crypto holders have already tried paying with digital assets; in Latin America, Visa and Bridge’s stablecoin cards are changing local spending habits. The global stablecoin market has reached approximately $25.5 billion, with these digital dollars flowing into everyday payment scenarios via the Visa network—from grocery shopping to online subscriptions. Crypto cards may be just a transitional bridge between two financial worlds, but with over $90 million flowing through that bridge each month, they’re no longer just an experiment in future finance—they’re a payment reality for many today.
