Crypto cards have firmly established themselves as a go-to payment tool in 2025, with popular options now processing $1.5 billion in monthly volume. This marks a dramatic climb from just $100 million in monthly payments back in 2023, fueled by clearer regulations and a more robust tech stack that has driven an average annual growth rate of 106%.
These cards leverage the infrastructure of giants like Visa and Mastercard to facilitate crypto payments, with the rise of stablecoins as the primary payment backbone playing a pivotal role. Early crypto cards struggled with volatile tokens, but stablecoins like USDC proved ideal for predictable spending, pushing 2025 payment volumes to $18 billion—nearly matching the $19 billion in P2P stablecoin transfers, per Artemis data.
Visa dominates the space, handling over 90% of crypto card volume through early legacy partnerships and reliable program managers who handle banking settlements and crypto-to-fiat swaps. Mastercard, meanwhile, expands via direct exchange partnerships with issuers like Revolut, Bybit, and Gemini, though volumes are smaller due to exchange user base sizes. Full-stack providers such as Rain and Reap offer end-to-end services, from issuance to liquidation, reducing reliance on traditional banks and cutting transaction costs.
Crypto cards shine in emerging markets like India and Argentina, where they help offset inflation via USDC spending, and in developed regions for large stablecoin holders seeking convenient spending without extra swaps. They also boost merchant adoption by integrating seamlessly with Visa and Mastercard networks—settlements remain in fiat, handled by partner banks like Lead Bank and Cross River Bank, with no special merchant integration needed. Apps like Rain manage the crypto liquidation, making the whole process as smooth as a traditional card swipe.
