Crypto card monthly spending hits $600 million, up 6x year-on-year! USDT accounts for 62.5%, Visa captures 90% market share, and Jupiter volume surges 6.6x in a single month.

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According to the latest data from Memento Research, the monthly spending volume of crypto payment cards has risen to $600 million, a 6-fold increase from a year ago. The cumulative on-chain transaction volume has reached $7.2 billion, with 24 million transactions completed across 1.36 million wallet addresses. On the settlement side, USDT dominates with a 62.5% share, while Visa captures approximately 90% of the transaction volume on the network side, even approaching 97% in March alone. The Solana ecosystem contributed approximately $348 million in transaction volume, with Jupiter Global seeing a 660% month-over-month surge. This marks the transition of stablecoin payments from internal exchange settlements to daily offline consumption scenarios. (Context: Top 10 Crypto Payment Cards Comparison: Application Thresholds, Fees, and Cashback Rates) (Background: Stablecoin trading volume reached $7.2 trillion in February, surpassing the US ACH system for the first time! 24/7 borderless advantage hits traditional banks) $600 million—this is the monthly spending amount burned by crypto payment cards in March 2026, a 6-fold surge from a year ago, with March hitting a new monthly high of $606 million. The latest Memento Research report shows that the total cumulative on-chain transaction volume has reached $7.2 billion, with 24 million transactions completed, involving 1.36 million unique wallet addresses. In terms of growth rate, the overall scale has grown by approximately 500% since September 2024. "Crypto cards" are no longer niche toys but are becoming payment tools integrated into daily consumption. BREAKING: Crypto card spending just hit $600M a month – up 6x in a year. In case you missed it: $7.2B has now moved through crypto cards on-chain • 24M transactions • 1.36M wallets • 62.5% in $USDT (@tether and @paoloardoino running the rails) • $348M on @solana (@toly) •… https://t.co/yWpcz8vpIz pic.twitter.com/QTrzNBL7Eu— Memento Research (@mementoresearch) May 2, 2026 At the settlement layer, Tether (USDT) sits firmly as the king of settlement with a 62.5% market share. Behind this figure is the inertia of USDT as the preferred liquidity tool in the crypto ecosystem—users are accustomed to holding USDT, so they naturally use it for card payments. It is worth noting that the share of USDC has been expanding recently, echoing the overall trend reported by BlockTempo previously that "USDC surpassed USDT to become the king of stablecoin settlement in 2025"—the competition and cooperation between the two are also playing out in the crypto card consumption scene. At the network layer, Visa's monopoly is even more striking. Throughout the period, the Visa network processed approximately 90% of crypto card transactions, and in March alone, this proportion surged to 97%, with Visa processing as much as $581.8 million for the month. Mastercard has been almost marginalized. This phenomenon seems paradoxical—stablecoins are on the rise, yet the biggest beneficiaries are traditional payment giants? The key lies in the business model of crypto cards: they "run on the existing Visa network." Merchants do not need any new integration; the act of swiping a card is no different from a regular credit card, with only the backend settlement replaced by stablecoins. For Visa, crypto cards are a new growth curve rather than a competitive threat. The Solana ecosystem has performed most impressively in this wave of crypto cards, contributing approximately $348 million in transaction volume and leading among all public chains. Among them, Jupiter's Jupiter Global saw a 660% month-over-month growth, becoming the fastest-growing single project in this round. There are several noteworthy details in the design of the Jupiter Card: - Cashback mechanism: 4% base cashback, settled in JupUSD (1:1 pegged to USDC), with a monthly cap of $100; limited-time new user promotion can reach 10%—spend $1,000 within 30 days to receive $100 in rewards. - Non-custodial design: USDC remains in the user's wallet throughout the process and is only converted and deducted at the moment of the actual card swipe, ensuring the user always retains control of their funds. - Funding backing: Jupiter completed a $35 million funding round in February 2026, co-led by ParaFi,

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