The data covers six crypto cards issued by Blockchain-based projects in partnership with Visa, including GnosisPay, Cypher, and DeFi platforms EtherFi, Avici Money, Exa App, and Moonwell.
EtherFi emerged as the clear market leader. Its crypto card recorded $55.4 million in spending in 2025, accounting for more than half of the total volume tracked. Cypher followed with $20.5 million, while the remaining projects contributed smaller but steadily growing amounts.
According to analysts, the data confirms that crypto cards are moving beyond niche adoption. “These figures demonstrate not only rapid user adoption but also the strategic importance of cryptocurrencies and stablecoins within Visa’s global payments ecosystem,” said Polygon researcher @obchakevich_ on X.
The surge in crypto card usage comes as Visa significantly expands its stablecoin initiatives. The company currently supports stablecoins across four different Blockchains and has launched multiple partnerships aimed at accelerating adoption among both retail and institutional users.
In mid-December, Visa also launched a dedicated stablecoin advisory team to help banks, merchants, and fintech companies deploy and manage stablecoin-based products.
For consumers, the data signals that crypto payments — particularly via dollar- and euro-pegged stablecoins — are becoming a practical alternative to traditional debit cards. If the trend continues, 2026 could mark a major milestone in the convergence of traditional finance and cryptocurrencies.
Sources:
https://dune.com/obchakevich/crypto-cards-all-chains
https://x.com/obchakevich_/status/2007859811908833352
https://corporate.visa.com/en/solutions/crypto/stablecoins.html
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