Crypto payment card spending experienced a dramatic surge in July 2026, reaching $759 million compared to $306 million in the same month last year, representing a 2.5-fold increase. According to reports from A16z Crypto using data from Paymentscan, cardholders completed nearly 9 million purchases with an average value of approximately $86 during the month. The monthly total has grown significantly from less than $1 million in October 2023 when Paymentscan began tracking the market, demonstrating the rapid adoption of crypto payment solutions. Users can now hold stablecoins via custodial or self-custodial wallets and make in-person purchases globally using traditional card networks like Visa, with merchants settled in local fiat currency.
USDC and USDT have emerged as the dominant payment methods in crypto card transactions, accounting for a combined 84% of tracked spending in July 2026. As reported by A16z Crypto, USDC handled approximately 58% of crypto card spending while USDT accounted for 26%. This represents a significant shift from one year earlier when their respective shares stood at approximately 48% and 7% respectively. The figures align with separate Visa data showing USDC processed about $1.21 trillion of the $1.79 trillion in adjusted stablecoin transfers in June, while USDT handled approximately $576 billion.
Optimism led blockchain settlement with 29% of tracked crypto card spending in July 2026, followed by Solana and Base each accounting for 19% of the volume. According to Paymentscan data reported by A16z Crypto, Gnosis processed approximately 2% of spending after serving as the main settlement chain during the market's early stage. The change in token use occurred as card issuers added support for more blockchains and dollar-backed assets, with USDC's share gaining about 10 percentage points over the past year while USDT's share increased by about 19 points.
Euro-backed tokens have lost their early market leadership, with EURe's share falling from approximately 88% of card spending in early 2024 to around 2% by July 2026. As reported by A16z Crypto, this decline coincided with the introduction of more blockchain settlement options and the expansion of dollar-backed stablecoin support. The growth comes as the GENIUS Act, signed into law in July 2025, established federal standards for payment stablecoin issuers, with the Office of the Comptroller of the Currency proposing implementation rules in February covering reserve composition and supervision requirements.
