Research Shows: Crypto Card Spending Reaches $18 Billion Annually

According to the latest research from Artemis, the cryptocurrency card ecosystem has reached an impressive milestone that will not be forgotten. The annual crypto card expenditure has reached $18 billion, a testament to the rapid growth of digital payment solutions worldwide.

Rapid Growth: From $100 Million to $1.5 Billion in Just Two Years

Artemis’s research shows an astonishing trajectory. In the first part of 2023, the monthly spending volume was only around $100 million. But in just two years, it reached over $1.5 billion by the end of 2025. This represents a 106% compound annual growth rate, making it one of the fastest-growing segments in digital payments.

For context, peer-to-peer stablecoin transfers are growing only 5% over the same period, while the crypto card market has already reached $18 billion annually. This comparison clearly demonstrates why crypto cards have become the preferred tool for users.

Why Are Crypto Cards Leading in Stablecoin Spending?

Whether good or bad, the research reveals a practical reason. Crypto cards utilize existing Visa and Mastercard networks, so there is no need for new integrations on the merchant side. This means faster and easier adoption of the technology in real-world payments.

Although there is significant interest in direct stablecoin payments, cards remain a bridge solution connecting to traditional payment infrastructure. Settlement on stablecoin-linked cards also reached $3.5 billion annually in Q4 2025, accounting for 19% of total crypto card volume.

USDT and USDC: Research Unveils Global Disparities

Artemis’s research uncovers an interesting pattern in global stablecoin adoption. In most markets, USDT (Tether) dominates in volume. But there are two countries that are true outliers: India and Argentina.

In India, USDC accounts for 47.4% of stablecoin transactions—almost equal to USDT. In Argentina, the USDC share has reached 46.6%, indicating a nearly equal preference between the two stablecoins. This is a significant divergence from the global trend where USDT is dominant.

The research also highlights that India has become the largest crypto market in the Asia-Pacific region based on inflows. Over the 12 months ending June 2025, inflows reached $338 billion—a 4,800% growth over five years.

Visa and Mastercard Leading the Crypto Card Revolution

The crypto card ecosystem is advancing on the same rails as traditional payment networks. Visa and Mastercard remain key players, capable of issuing and managing programs.

Research shows that Visa has captured over 90% of on-chain card volume through early partnerships with crypto-native infrastructure providers. This demonstrates Visa’s significant market dominance in the crypto card ecosystem.

Collaboration between traditional finance giants and cryptocurrency infrastructure has laid the foundation for sustainable growth in the digital payments space.